The Graveyard › Banks › 1988
The American Bank
Palestine, TX · failed July 14, 1988 · FDIC certificate 23082
The American Bank of Palestine, TX failed on July 14, 1988. It opened on March 19, 1980, 8 years before. At its last report before that it held $20.8 million in assets and $20.4 million in deposits. At its largest in the FDIC's quarterly reports, on June 30, 1985, it held $36.8 million. The FDIC estimates that the FDIC's insurance fund lost $3.8 million on it.
1984-031988-03
Assets at the end$20.8 millionlast report before July 14, 1988
Deposits at the end$20.4 million
Estimated loss to the fund$3.8 millionFDIC
Largest in the quarterly reports$36.8 millionJune 30, 1985
Equity to assets1.2%March 31, 1988
Loans not being repaid8.4%noncurrent, March 31, 1988
Return on assets-0.07%a year's rate, March 31, 1988
Staff23full time, March 31, 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.