The Graveyard › Banks › 1988

McAllen State Bank

Mc Allen, TX · failed April 19, 1988 · FDIC certificate 16353

McAllen State Bank of Mc Allen, TX failed on April 19, 1988. It opened on December 10, 1945, 42 years before. At its last report before that it held $580.0 million in assets and $556.2 million in deposits. At its largest in the FDIC's quarterly reports, on December 31, 1985, it held $841.0 million. The FDIC estimates that the FDIC's insurance fund lost $2.2 million on it.

1984-031988-03

Assets at the end$580.0 millionlast report before April 19, 1988

Deposits at the end$556.2 million

Estimated loss to the fund$2.2 millionFDIC

Largest in the quarterly reports$841.0 millionDecember 31, 1985

Equity to assets-4.5%March 31, 1988

Loans not being repaid15.7%noncurrent, March 31, 1988

Return on assets0.60%a year's rate, March 31, 1988

Staff270full time, March 31, 1988

On the FDIC's list: MC ALLEN STATE BANK.

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.