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S&P put six Texas banks on its Creditwatch list.

March 19, 1986

Standard & Poor's said it took the action because the banks face financial problems "due to the precipitous drop in oil prices and the anticipated effect on energy and real estate lending, as well as the local economy." The action affects about $1.4 billion in long-term debt and preferred stock. The six bank holding companies are Allied Bancshares, InterFirst, MCorp, RepublicBank, Texas American Bancshares and Texas Commerce Bancshares.

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