The Graveyard › Banks › 1988
Galena Park State Bank
Galena Park, TX · failed August 11, 1988 · FDIC certificate 16077
Galena Park State Bank of Galena Park, TX failed on August 11, 1988. It opened on July 11, 1943, 45 years before. At its last report before that it held $24.8 million in assets and $28.9 million in deposits. At its largest in the FDIC's quarterly reports, on March 31, 1987, it held $36.2 million. The FDIC estimates that the FDIC's insurance fund lost $7.2 million on it.
1984-031988-06
Assets at the end$24.8 millionlast report before August 11, 1988
Deposits at the end$28.9 million
Estimated loss to the fund$7.2 millionFDIC
Largest in the quarterly reports$36.2 millionMarch 31, 1987
Equity to assets-17.1%June 30, 1988
Loans not being repaid12.4%noncurrent, June 30, 1988
Return on assets-42.54%a year's rate, June 30, 1988
Staff25full time, June 30, 1988
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.