First RepublicBank Corp. of Dallas -- Texas' largest bank holding company and the 14th largest in the United States, was seized in July 1988 by regulators who had judged that the bank was hopelessly insolvent just four months after a $1 billion government bailout. It was the largest bank failure in U.S. history at the time. Despite the $1 billion emergency loan from Uncle Sam, the bank couldn't weather huge loan losses on commercial real estate, which had been grossly overvalued during appraisal, as the Texas property markets crashed. Cost: $4 billion.
Dallas Morning News