I have been in banking since July 1987. I watched all but one large Texas bank (Frost Bank) fail and be taken over by out of state players in the late 1980's. Looking for a turnarounds without capital infusions can be very risky. Few banks survive without massive dilution to legacy shareholders.
Sometimes even recapitizations do not work.
I invested in First City Bankcorp after it received a $500 million capital infusion from an investor group led by Robert Abboud, the former CEO of First Chicago, on April 20, 1988.
Actually, I had a choice: First City with assistance or Frost without FDIC help. I made the wrong decision. First City failed on October 30,1992.