The Graveyard › Banks › 1988

First City, Texas - Houston, NA

Houston · assisted April 20, 1988 · FDIC certificate 13702

First City, Texas - Houston, NA of Houston was given assistance by the FDIC on April 20, 1988. The FDIC's list records an assistance transaction, not a closing. It opened on February 20, 1928, 60 years before. At its last report before that it held $4.4 billion in assets and $2.2 billion in deposits. At its largest in the FDIC's quarterly reports, on March 31, 1985, it held $9.6 billion. The FDIC estimates that the FDIC's insurance fund lost $721.0 million on it.

1984-031988-03

Assets at the end$4.4 billionlast report before April 20, 1988

Deposits at the end$2.2 billion

Estimated loss to the fund$721.0 millionFDIC

Largest in the quarterly reports$9.6 billionMarch 31, 1985

Equity to assets-11.1%March 31, 1988

Loans not being repaid22.9%noncurrent, March 31, 1988

Return on assets-3.25%a year's rate, March 31, 1988

Staff1,797full time, March 31, 1988

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 Texas Savings Association · Dallas · $3.1 billion in assets · assisted
Columbia Fs&La · Englewood · $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.