The Graveyard › Banks › 1988
The First State Bank
Rockwall, TX · failed May 26, 1988 · FDIC certificate 15909
The First State Bank of Rockwall, TX failed on May 26, 1988. It opened on September 2, 1942, 45 years before. At its last report before that it held $39.9 million in assets and $39.7 million in deposits. At its largest in the FDIC's quarterly reports, on December 31, 1986, it held $49.7 million. The FDIC estimates that the FDIC's insurance fund lost $14.8 million on it.
1984-031988-03
Assets at the end$39.9 millionlast report before May 26, 1988
Deposits at the end$39.7 million
Estimated loss to the fund$14.8 millionFDIC
Largest in the quarterly reports$49.7 millionDecember 31, 1986
Equity to assets-0.7%March 31, 1988
Loans not being repaid11.5%noncurrent, March 31, 1988
Return on assets-26.05%a year's rate, March 31, 1988
Staff33full 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.