The Graveyard › Banks › 1989
Citizens Bank
Galveston, TX · failed October 12, 1989 · FDIC certificate 18876
Citizens Bank of Galveston, TX failed on October 12, 1989. It opened on September 23, 1963, 26 years before. At its last report before that it held $31.3 million in assets and $32.1 million in deposits. At its largest in the FDIC's quarterly reports, on September 30, 1988, it held $35.8 million. The FDIC estimates that the Bank Insurance Fund lost $5.4 million on it.
1984-031989-06
Assets at the end$31.3 millionlast report before October 12, 1989
Deposits at the end$32.1 million
Estimated loss to the fund$5.4 millionBIF
Largest in the quarterly reports$35.8 millionSeptember 30, 1988
Equity to assets-4.6%June 30, 1989
Loans not being repaid4.1%noncurrent, June 30, 1989
Return on assets-9.18%a year's rate, June 30, 1989
Staff26full time, June 30, 1989
Also ended in 1989
- Gibraltar Savings, FA · Simi Valley, CA · $13.4 billion in assets
- City Savings, FSB · Somerset, NJ · $9.8 billion in assets
- MBank Dallas, National Association · Dallas, TX · $6.6 billion in assets
- Western Savings & Loan · Phoenix, AZ · $5.7 billion in assets
- Lincoln Savings & Loan · Irvine, CA · $4.9 billion in assets
- University Federal Savings · Houston, TX · $4.5 billion in assets
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.