Data / Bank failures / 1987 / Bank of North America
Bank of North America, Houston, TX: failed August 27, 1987
Bank of North America in Houston, Texas, failed on August 27, 1987. Texas Commerce Bank NA of Houston, TX, took over its deposits. It held $34.5 million in assets and $31.2 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $10.2 million (29.6% of its assets). By assets it was the 108th largest of 262 banks closed or assisted in 1987.
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The FDIC's record
- Closed
- August 27, 1987
- Type
- Failure
- How it was resolved
- Insured deposit transfer: the insured deposits moved to another bank
- Acquirer
- Texas Commerce Bank NA, Houston, TX
- Total assets
- $34,537,000
- Total deposits
- $31,165,000
- Estimated cost to the FDIC
- $10,212,030 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- FDIC
- FDIC certificate
- 18088
Other bank failures in Texas, 1985 to 1989
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Columbia Fsa | Nassau Bay | December 21, 1989 | $77.1 million | $71.1 million | $36 million | |
| Canyon Lake Bank | Canyon Lake | December 14, 1989 | $31 million | $32.1 million | $9.2 million | Victoria Bank & Trust Compa |
| Midlothian National Bank | Midlothian | December 13, 1989 | $10 million | $11.5 million | $4.1 million | The First National Bank in |
| Westheimer Memorial Bank, NA | Houston | December 7, 1989 | $38.9 million | $47.7 million | $20.1 million | Hibernia National Bank in T |
| First National Bank of Frisco | Frisco | December 7, 1989 | $9 million | $9.4 million | $976,425 | Hibernia National Bank in T |
| Aledo State Bank | Aledo | December 7, 1989 | $9.9 million | $9.7 million | $406,520 | Citizens National Bank of W |
| Austin FS & La | Austin | November 30, 1989 | $113.4 million | $85 million | $21.6 million | |
| Fortune Financial Fed. S & L Assoc | Copperas Cove | November 30, 1989 | $84.2 million | $74.5 million | $35.3 million |
Other failed banks Texas Commerce Bank NA took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Union Bank of Houston | Houston | TX | December 1, 1988 | $55.4 million | $49.1 million | $12.6 million | Texas Commerce Bank NA |
| West Houston National Bank | Houston | TX | August 11, 1988 | $26.4 million | $26.7 million | $6.7 million | Texas Commerce Bank NA |
| First Houston Bank, N.A. | Houston | TX | February 11, 1988 | $33.2 million | $34.6 million | $11 million | Texas Commerce Bank NA |
| Western Bank-North Wilcrest, N.a | Houston | TX | October 1, 1987 | $41.1 million | $40.6 million | $12.9 million | Texas Commerce Bank NA |
| Western Bank-Westwood, N.A. | Houston | TX | October 1, 1987 | $44.2 million | $42.6 million | $11.6 million | Texas Commerce Bank NA |
| Montgomery County Bank, N.A. | The Woodlands | TX | January 29, 1987 | $48.5 million | $47.6 million | $13.9 million | Texas Commerce Bank NA |
All bank failures in 1987 · All bank failures in Texas · Every failed bank Texas Commerce Bank NA took over · The full failed bank list
Read from the FDIC's failures data (BankFind), last updated 2026-10-24. Assets and deposits are as of the last report before failure; the estimated cost is the FDIC's latest estimate of the loss to its insurance fund and changes as the receivership winds down. Free to reuse with credit to SpecStream under CC BY 4.0.