The Graveyard › Banks › 1988

First City, Texas - Westheimer Plaza

Houston · assisted April 20, 1988 · FDIC certificate 24358

First City, Texas - Westheimer Plaza 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 14, 1983, 5 years before. At its last report before that it held $62.6 million in assets and $61.0 million in deposits. At its largest in the FDIC's quarterly reports, on December 31, 1987, it held $69.7 million. The FDIC estimates that the FDIC's insurance fund lost $5.3 million on it.

1984-031988-03

Assets at the end$62.6 millionlast report before April 20, 1988

Deposits at the end$61.0 million

Estimated loss to the fund$5.3 millionFDIC

Largest in the quarterly reports$69.7 millionDecember 31, 1987

Equity to assets1.0%March 31, 1988

Loans not being repaid20.1%noncurrent, March 31, 1988

Return on assets-2.53%a year's rate, March 31, 1988

Staff23full 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 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.