WOODLANDS, TX-Locally-based Texas Community Bank NA was shuttered by the Office of the Comptroller of the Currency on Friday with the Federal Deposit Insurance Corp. named as the receiver.
All deposit accounts of the bank, which has eight branch locations in the Houston area, were transferred to Spirit of Texas Bank SSB of College Station. Spirit of Texas Bank also agreed to acquire nearly $148 million of Texas Community Bank's failed assets, according to the Houston Business Journal. The FDIC will retain the remainder for disposition at a future date.
As of Sept. 30, Texas Community Bank had approximately $160.1 million in total assets and $142.6 million in total deposits. See story in the Houston Business Journal.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
