Three more Texas banks have been closed...
Three more Texas banks have been closed and assumed into other banks, bringing the 1988 failure total to 141 banks nationally and 86 in Texas. The Federal Deposit Insurance Corp. approved the assumption of the First Bank of Balch Springs by Gateway National Bank of Dallas and the assumption of the Galena Park Bank by Lockwood National Bank of Houston. Both will reopen as branches of the assuming banks. FDIC approved the assumption of West Houston National, which had assets of $24.8 million, by Texas Commerce Bank of Houston. The bank’s depositors will have access to funds at Texas Commerce’s WestLake Park branch.
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