The Graveyard › Banks › 1988

Burns State Bank

Burns · assisted April 15, 1988 · FDIC certificate 15811

Burns State Bank of Burns was given assistance by the FDIC on April 15, 1988. The FDIC's list records an assistance transaction, not a closing. It opened on October 17, 1900, 87 years before. At its last report before that it held $4.4 million in assets and $4.1 million in deposits. At its largest in the FDIC's quarterly reports, on March 31, 1987, it held $6.1 million. The FDIC estimates that the FDIC's insurance fund lost $567,000 on it.

1984-031987-12

Assets at the end$4.4 millionlast report before April 15, 1988

Deposits at the end$4.1 million

Estimated loss to the fund$567,000FDIC

Largest in the quarterly reports$6.1 millionMarch 31, 1987

Equity to assets5.0%December 31, 1987

Loans not being repaid24.4%noncurrent, December 31, 1987

Return on assets-2.85%a year's rate, December 31, 1987

Staff3full time, December 31, 1987

Could you have seen it coming? Play Black Monday

Also ended in 1988

American S&LA · Stockton · $30.2 billion in assets · assisted
First Republicbank-Dallas, N.A. · Dallas, TX · $17.1 billion in assets
Gibraltar SA · Houston · $6.5 billion in assets · assisted
United Savings Association of Texas · Houston · $4.6 billion in assets · assisted
First City, Texas - Houston, NA · Houston · $4.4 billion in assets · assisted
First Texas Savings Association · Dallas · $3.1 billion in assets · assisted

History, not advice.

Source: Federal Deposit Insurance Corporation, BankFind Suite API. Source values and institutional identifiers are retained; formatting and normalization by Underfolio. No FDIC endorsement is implied. How these numbers are made · Report a data issue.