Saturday, June 1, 2019

There were zero bank failures in 2018, but we got the first one of 2019 last night

The Enloe State Bank, Cooper, Texas, failed last night, the first bank failure in the US since Dec. 15, 2017. A bank failure hasn't occurred in Texas since 2013.

The failure in Texas is estimated to cost the FDIC's Deposit Insurance Fund $27 million.

The FDIC insures the deposits at 5,362 institutions as of March 31, 2019.