Data / Bank failures / 1990 / First National Bank of Desoto
First National Bank of Desoto, Desoto, TX: failed May 10, 1990
First National Bank of Desoto in Desoto, Texas, failed on May 10, 1990. Hibernia National Bank in T of Pflugerville, TX, took over its deposits. It held $24.1 million in assets and $26.5 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $8.6 million (35.8% of its assets). By assets it was the 296th largest of 382 banks closed or assisted in 1990.
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The FDIC's record
- Closed
- May 10, 1990
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Hibernia National Bank in T, Pflugerville, TX
- Total assets
- $24,070,000
- Total deposits
- $26,512,000
- Estimated cost to the FDIC
- $8,607,878 (estimate as of July 31, 2026)
- Charter
- National bank (supervised by the OCC)
- Insurance fund
- BIF
- FDIC certificate
- 23699
Other bank failures in Texas, 1988 to 1992
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Citizens State Bank (assistance) | Princeton | December 10, 1992 | $12.9 million | $12.8 million | $246,897 | Citizens State Bank |
| First City, Texas - San Antonio | San Antonio | October 30, 1992 | $265.7 million | $259 million | The Frost National Bank | |
| First City, Texas - Corpus Chris | Corpus Christi | October 30, 1992 | $462.8 million | $383.4 million | Mercantile Bank, NA | |
| First City, Texas - Aransas Pass | Aransas Pass | October 30, 1992 | $51.7 million | $47.2 million | Corpus Christi National Ban | |
| First City, Texas - Alice, NA | Alice | October 30, 1992 | $128 million | $118 million | Alice Bank of Texas | |
| First City, Texas - Kountze, NA | Kountze | October 30, 1992 | $51.3 million | $47 million | Citizens Bank | |
| First City, Texas - El Paso, NA | El Paso | October 30, 1992 | $395.9 million | $367.3 million | Sunwest Bank of El Paso | |
| First City, Texas - Lake Jackson | Lake Jackson | October 30, 1992 | $104.3 million | $96.4 million | First Heights Bank, FSB |
Other failed banks Hibernia National Bank in T took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Centre National Bank-Farmers Branch | Farmers Branch | TX | June 21, 1990 | $39.7 million | $39.2 million | $5.2 million | Hibernia National Bank in T |
| Alliance Bank, National Association | Austin | TX | June 14, 1990 | $81.1 million | $85.5 million | $14.2 million | Hibernia National Bank in T |
| Richmark Bank | Houston | TX | June 7, 1990 | $35.2 million | $35.8 million | $11.7 million | Hibernia National Bank in T |
| First National Bank, Northeast | Austin | TX | May 3, 1990 | $18 million | $18.7 million | $4.7 million | Hibernia National Bank in T |
| Search National Bank | Dallas | TX | March 1, 1990 | $21.2 million | $22.2 million | $6.9 million | Hibernia National Bank in T |
| Banctexas Dallas, N.A. | Dallas | TX | January 26, 1990 | $340.9 million | $338.2 million | $64.6 million | Hibernia National Bank in T |
| Westheimer Memorial Bank, NA | Houston | TX | December 7, 1989 | $38.9 million | $47.7 million | $20.1 million | Hibernia National Bank in T |
| First National Bank of Frisco | Frisco | TX | December 7, 1989 | $9 million | $9.4 million | $976,425 | Hibernia National Bank in T |
All bank failures in 1990 · All bank failures in Texas · Every failed bank Hibernia National Bank in T 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.