Bank Failure
Bear Creek National Bank
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Closed January 29, 1987 · Bear Creek, TX · FDIC Cert #25633.
- Closing date
- January 29, 1987
- Headquarters
- Bear Creek, TX
- FDIC Certificate
- 25633
- Total assets at closing
- $26.6M
- Total deposits at closing
- $26.0M
- Estimated loss to the insurance fund
- $7.5M
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
- Acquirer
- Jersey Village Bank
Context
On January 29, 1987, regulators closed Bear Creek National Bank, headquartered in Bear Creek, TX. At closing, the institution held approximately $26.6M in assets and $26.0M in deposits. The FDIC record names Jersey Village Bank as the acquiring institution in the resolution. The estimated cost to the FDIC insurance fund was approximately $7.5M.
By assets at closing this is the 2136th largest of the 3,526 bank failures in the FDIC record, and the 86th of 217 in 1987. It falls in the period the record labels S&L / Banking Crisis (1980-1995), a period with 2,367 failures peaking at 530 in 1989.
Deregulation, interest-rate shocks, and commercial real estate blowups produced the worst US banking failure wave since the Depression. Resulted in FIRREA (1989) and the RTC.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did Bear Creek National Bank fail?
Bear Creek National Bank was closed by regulators on January 29, 1987.
Who acquired Bear Creek National Bank?
The FDIC record names Jersey Village Bank as the acquiring institution in the resolution of Bear Creek National Bank.
How big was Bear Creek National Bank when it failed?
Bear Creek National Bank had approximately $26.6M in total assets and $26.0M in deposits at the time of failure.
Other failures in 1987
| Date | Bank | Assets |
|---|---|---|
| Dec 18, 1987 | First State Bank at Shoshoni | $4.6M |
| Dec 17, 1987 | Usbank | $86.0M |
| Dec 17, 1987 | Bank of Mabank | $43.8M |
| Dec 17, 1987 | American Bank of Commerce | $35.5M |
| Dec 11, 1987 | First Interstate Bank of Alaska | $367.7M |
| Dec 11, 1987 | Lewis and Clark State Bank | $20.3M |
| Dec 10, 1987 | Heritage National Bank | $53.2M |
| Dec 10, 1987 | Bancfirst-Austin, N.A. | $25.3M |
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