State regulators closed two more Texas banks.
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Massive loan losses caused the collapse of the two banks, officials said, including one whose $218 million in assets made it the largest to fail in the nation this year. Texas banking authorities closed Unitedbank-Houston and Peoples State Bank in the Panhandle town of Turkey and turned them over to the Federal Deposit Insurance Corp. for sale or liquidation. The closures brought to 23 the number of banks that have failed in the economically depressed state this year and pushed the national total to 71.
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