Data / Bank failures / 1988 / Century National Bank
Century National Bank, Austin, TX: failed June 16, 1988
Century National Bank in Austin, Texas, failed on June 16, 1988. Community National Bank of Austin, TX, took over its deposits. It held $54 million in assets and $56.1 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $13.8 million (25.5% of its assets). By assets it was the 265th largest of 470 banks closed or assisted in 1988.
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The FDIC's record
- Closed
- June 16, 1988
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Community National Bank, Austin, TX
- Total assets
- $54,001,000
- Total deposits
- $56,096,000
- Estimated cost to the FDIC
- $13,758,201 (estimate as of July 31, 2026)
- Charter
- National bank (supervised by the OCC)
- Insurance fund
- FDIC
- FDIC certificate
- 24300
Other bank failures in Texas, 1986 to 1990
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Peoples State Bank | Dallas | December 14, 1990 | $30.3 million | $30.6 million | $6.3 million | Comerica Bank - Texas |
| The State Bank of Omaha | Omaha | December 14, 1990 | $20.5 million | $20.6 million | $5.3 million | The First National Bank of |
| Washington County State Bank | Brenham | December 13, 1990 | $77.7 million | $77.5 million | $9.4 million | Channelview Bank |
| Andrews Savings & Loan Assoc. | Andrews | December 7, 1990 | $126.1 million | $109.7 million | $11 million | |
| First National Bank of Rowlett | Rowlett | December 7, 1990 | $20.5 million | $21.4 million | $6.5 million | U.S. Trust Company of Texas |
| Heights Bank | Harker Heights | December 7, 1990 | $28.8 million | $27 million | $4.7 million | Heights State Bank |
| First Southwest FS & La | Tyler | November 30, 1990 | $51.2 million | $45.3 million | $4.9 million | Citizens Bank |
| Atascosa Sa | Jourdanton | November 30, 1990 | $34.7 million | $32.9 million | $7.1 million |
Other failed banks Community National Bank took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| The La Coste National Bank | La Coste | TX | February 19, 2010 | $53.9 million | $49.3 million | $5.7 million | Community National Bank |
| Oak Hill National Bank | Travis County | TX | January 12, 1989 | $18.2 million | $18.2 million | $5.5 million | Community National Bank |
| Heritage National Bank | Austin | TX | December 10, 1987 | $53.2 million | $51 million | $19.5 million | Community National Bank |
All bank failures in 1988 · All bank failures in Texas · Every failed bank Community National Bank took over · The full failed bank list
Read from the FDIC's failures data (BankFind), last updated 2026-10-23. 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.