Data / Bank failures / 1996 / People's Bank & Trust
People's Bank & Trust, Borger, TX: failed May 31, 1996
People's Bank & Trust in Borger, Texas, failed on May 31, 1996. Boatmen's First NB of Amari of Amarillo, TX, took over its deposits. It held $22.7 million in assets and $22.3 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $3.4 million (14.9% of its assets). By assets it was the 5th largest of 6 banks closed or assisted in 1996.
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The FDIC's record
- Closed
- May 31, 1996
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Boatmen's First NB of Amari, Amarillo, TX
- Total assets
- $22,739,000
- Total deposits
- $22,288,000
- Estimated cost to the FDIC
- $3,377,557 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- BIF
- FDIC certificate
- 18662
Other bank failures in Texas, 1994 to 1998
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| First NB of the Panhandle | Panhandle | June 14, 1996 | $68.1 million | $68 million | $16.3 million | Sun Bank |
All bank failures in 1996 · 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.