Data / Bank failures / 2008 / Franklin Bank, SSB
Franklin Bank, SSB, Houston, TX: failed November 7, 2008
Franklin Bank, SSB in Houston, Texas, failed on November 7, 2008. Prosperity Bank of El Campo, TX, took over its deposits. It held $5.09 billion in assets and $3.69 billion in deposits at its last report. The FDIC estimates the cost to its insurance fund at $614.1 million (12.1% of its assets). By assets it was the 7th largest of 30 banks closed or assisted in 2008.
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The FDIC's record
- Closed
- November 7, 2008
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Prosperity Bank, El Campo, TX
- Total assets
- $5,089,260,000
- Total deposits
- $3,692,887,000
- Estimated cost to the FDIC
- $614,110,962 (estimate as of July 31, 2026)
- Charter
- Savings institution
- Insurance fund
- DIF
- FDIC certificate
- 26870
Other bank failures in Texas, 2006 to 2010
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| The La Coste National Bank | La Coste | February 19, 2010 | $53.9 million | $49.3 million | $5.7 million | Community National Bank |
| Madisonville State Bank | Madisonville | October 30, 2009 | $256.3 million | $224.7 million | U.S. Bank, NA | |
| Citizens National Bank | Teague | October 30, 2009 | $118.2 million | $97.6 million | $5.8 million | U.S. Bank, NA |
| North Houston Bank | Houston | October 30, 2009 | $325.5 million | $307.2 million | $12 million | U.S. Bank, NA |
| Guaranty Bank | Austin | August 21, 2009 | $13.46 billion | $11.98 billion | Compass Bank | |
| Millennium State Bank of Texas | Dallas | July 2, 2009 | $118.6 million | $115.5 million | $52.7 million | State Bank of Texas |
| Sanderson State Bank | Sanderson | December 12, 2008 | $38.2 million | $32 million | $7.7 million | The Pecos County Bank |
All bank failures in 2008 · All bank failures in Texas · 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.