The Texas Department of Banking has closed Plano, Texas-based First International Bank. Houston-based American First National Bank has acquired the failed bank's assets and deposits in a transaction facilitated by the Federal Deposit Insurance Corp. (FDIC).
As of June 30, First International Bank had approximately $239.9 million in total assets and $208.8 million in total deposits.
The FDIC estimates that the cost to its Deposit Insurance Fund will be $53.8 million. First International Bank is the 74th FDIC-insured institution to fail this year.