The Graveyard › Banks › 1988

First American Bank and Trust of Friendswood

Friendswood, TX · failed March 10, 1988 · FDIC certificate 26546

First American Bank and Trust of Friendswood of Friendswood, TX failed on March 10, 1988. It opened on February 3, 1986, 2 years before. At its last report before that it held $6.4 million in assets and $6.3 million in deposits. At its largest in the FDIC's quarterly reports, on March 31, 1987, it held $9.0 million. The FDIC estimates that the FDIC's insurance fund lost $2.3 million on it.

1986-031987-12

Assets at the end$6.4 millionlast report before March 10, 1988

Deposits at the end$6.3 million

Estimated loss to the fund$2.3 millionFDIC

Largest in the quarterly reports$9.0 millionMarch 31, 1987

Equity to assets0.3%December 31, 1987

Loans not being repaid12.9%noncurrent, December 31, 1987

Return on assets-13.61%a year's rate, December 31, 1987

Staff7full time, December 31, 1987

On the FDIC's list: FIRST AMERICAN BANK & TR OF FRIENDSWOOD.

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.