First National Bank locations opened as usual Saturday, but under the Prosperity Bank banner.
Normal operations continue at the sites once owned by Franklin Bank, then taken over Friday by the Federal Deposit Insurance Corporation. Deposit accounts were transferred to the El Campo-based Prosperity.
The FDIC notes that no notice is given when a financial institution is shut down.
"Your transferred deposits will be separately insured from any accounts you may already have at Prosperity Bank for six months after the failure of Franklin Bank, SSB," according to the FDIC's website. "Checks that were drawn on Franklin Bank, SSB that did not clear before the institution closed will be honored as long as there are sufficient funds in the account."
A link to more information from the FDIC is available below this story.
It was 2007 that First National Bank was acquired by Franklin Bank. First National was recognized in 1996 with a historic marker by the Brazos County Historical Commission. A private lending agency started in 1862 was reorganized more than a decade later according to the commission, which notes it later became known as First National Bank of Bryan in 1883.
More on the history of First National is also below this story.
To comment, the following rules must be followed:
Comments may be monitored for inappropriate content, but the station is under no legal obligation to do so.
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.
Multiple violations may result in account suspension.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Questions may be sent to firstname.lastname@example.org. Please provide detailed information.
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or email@example.com.