The Graveyard › Banks › 1989
The First State Bank
Abilene, TX · failed February 17, 1989 · FDIC certificate 16751
The First State Bank of Abilene, TX failed on February 17, 1989. It opened on November 18, 1948, 40 years before. At its last report before that it held $272.7 million in assets and $206.6 million in deposits. The FDIC estimates that the FDIC's insurance fund lost $85.7 million on it.
1984-031988-12
Assets at the end$272.7 millionlast report before February 17, 1989
Deposits at the end$206.6 million
Estimated loss to the fund$85.7 millionFDIC
Equity to assets-6.4%December 31, 1988
Loans not being repaid12.5%noncurrent, December 31, 1988
Return on assets-7.30%a year's rate, December 31, 1988
Staff210full time, December 31, 1988
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.