The Graveyard › Banks › 1987
The First National Bank of Weslaco
Weslaco, TX · failed February 20, 1987 · FDIC certificate 5579
The First National Bank of Weslaco of Weslaco, TX failed on February 20, 1987. It opened on February 1, 1925, 62 years before. At its last report before that it held $70.7 million in assets and $73.2 million in deposits. The FDIC estimates that the FDIC's insurance fund lost $16.0 million on it.
1984-031986-12
Assets at the end$70.7 millionlast report before February 20, 1987
Deposits at the end$73.2 million
Estimated loss to the fund$16.0 millionFDIC
Equity to assets-4.3%December 31, 1986
Loans not being repaid16.3%noncurrent, December 31, 1986
Return on assets-2.05%a year's rate, December 31, 1986
Staff72full time, December 31, 1986
Also ended in 1987
- Lyons Federal Trust & Savings · Countryside · $2.3 billion in assets · assisted
- Freedom S&LA · Tampa, FL · $1.9 billion in assets
- Vernon S&LA · Vernon, TX · $1.3 billion in assets
- Syracuse Savings Bank · Syracuse · $1.2 billion in assets · assisted
- Independent American SA · Irving, TX · $1.0 billion in assets
- First Financial Bank, FSB · New Orleans · $744.9 million 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.