# PORT CITY BANK

> **Failed bank** · HOUSTON, TX · failed 1988-01-28 · State commercial bank, non-Federal Reserve member (FDIC-supervised) · FDIC cost $13M

## What happened

PORT CITY BANK of HOUSTON, TX was closed by regulators on **1988-01-28**. The FDIC was named receiver.

**Resolution:** Purchase & Assumption — acquiring bank assumed deposits + bought assets

Deposits were transferred to **CHANNELVIEW BANK** (CHANNELVIEW, TX). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 1612
- **FDIC Certificate:** 16489
- **FDIC FIN:** 2779
- **Bank name:** PORT CITY BANK
- **Location:** HOUSTON, TX
- **Failure date:** 1988-01-28
- **FDIC resolution date:** 1988-01-28
- **Charter type:** State commercial bank, non-Federal Reserve member (FDIC-supervised)
- **Resolution type:** Purchase & Assumption — acquiring bank assumed deposits + bought assets
- **Estimated FDIC DIF cost:** $13M
- **Deposits at failure:** $62M
- **Assets at failure:** $61M
- **Acquiring bank:** CHANNELVIEW BANK (CHANNELVIEW, TX)

## Other banks CHANNELVIEW BANK has acquired in FDIC resolutions

- UNION BANK (SAN ANTONIO, TX) — failed 1991-10-31 — /failed-bank/3229
- WASHINGTON COUNTY STATE BANK (BRENHAM, TX) — failed 1990-12-13 — /failed-bank/2962
- COMMUNITY BANK (NEW CANEY, TX) — failed 1990-03-22 — /failed-bank/2712
- HUFFMAN BANK (HUFFMAN, TX) — failed 1990-02-15 — /failed-bank/2653
- UNIVERSAL SA (HOUSTON, TX) — failed 1989-03-09 — /failed-bank/2203
- COMMERCIAL STATE BANK (HOUSTON, TX) — failed 1989-01-12 — /failed-bank/2067

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=PORT%20CITY%20BANK

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, PORT CITY BANK (FDIC ID 1612), failed 1988-01-28. Retrieved via AI Analytics 2026-05-19 from https://api.ai-analytics.org/failed-bank/1612.

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