The Graveyard › Banks › 1989

Security Bank and Trust Company

Wharton, TX · failed May 18, 1989 · FDIC certificate 1220

Security Bank and Trust Company of Wharton, TX failed on May 18, 1989. It opened in 1916, 73 years before. At its last report before that it held $34.8 million in assets and $37.1 million in deposits. At its largest in the FDIC's quarterly reports, on September 30, 1984, it held $60.8 million. The FDIC estimates that the FDIC's insurance fund lost $9.4 million on it.

1984-031989-03

Assets at the end$34.8 millionlast report before May 18, 1989

Deposits at the end$37.1 million

Estimated loss to the fund$9.4 millionFDIC

Largest in the quarterly reports$60.8 millionSeptember 30, 1984

Equity to assets-8.4%March 31, 1989

Loans not being repaid21.6%noncurrent, March 31, 1989

Return on assets-5.14%a year's rate, March 31, 1989

Staff23full time, March 31, 1989

On the FDIC's list: SECURITY BANK & TRUST COMPANY.

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Also ended in 1989

Gibraltar Savings, FA · Simi Valley, CA · $13.4 billion in assets
City Savings, FSB · Somerset, NJ · $9.8 billion in assets
MBank Dallas, National Association · Dallas, TX · $6.6 billion in assets
Western Savings & Loan · Phoenix, AZ · $5.7 billion in assets
Lincoln Savings & Loan · Irvine, CA · $4.9 billion in assets
University Federal Savings · Houston, TX · $4.5 billion in assets

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.