Bank Failure
Citizens National Bank of Walnut Ridge
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Closed February 2, 1990 · Walnut Ridge, AR · FDIC Cert #16816.
- Closing date
- February 2, 1990
- Headquarters
- Walnut Ridge, AR
- FDIC Certificate
- 16816
- Total assets at closing
- $37.5M
- Total deposits at closing
- $34.1M
- Estimated loss to the insurance fund
- $6.3M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- The Lawrence County Bank
Context
On February 2, 1990, regulators closed Citizens National Bank of Walnut Ridge, headquartered in Walnut Ridge, AR. At closing, the institution held approximately $37.5M in assets and $34.1M in deposits. The FDIC record names The Lawrence County Bank as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $6.3M.
By assets at closing this is the 1858th largest of the 3,526 bank failures in the FDIC record, and the 249th of 381 in 1990. 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 Citizens National Bank of Walnut Ridge fail?
Citizens National Bank of Walnut Ridge was closed by regulators on February 2, 1990.
Who acquired Citizens National Bank of Walnut Ridge?
The FDIC record names The Lawrence County Bank as the acquiring institution in the resolution of Citizens National Bank of Walnut Ridge.
How big was Citizens National Bank of Walnut Ridge when it failed?
Citizens National Bank of Walnut Ridge had approximately $37.5M in total assets and $34.1M in deposits at the time of failure.
Other failures in 1990
| Date | Bank | Assets |
|---|---|---|
| Dec 28, 1990 | Capitol Bank and Trust Company | $485.6M |
| Dec 28, 1990 | Southern FS | $230.8M |
| Dec 28, 1990 | First FS & La of Andalusia | $38.7M |
| Dec 27, 1990 | Enterprise Savings Bank, F.A. | $432.6M |
| Dec 21, 1990 | Arkansas FSB | $71.7M |
| Dec 15, 1990 | Mid-America FS & La | $1.21B |
| Dec 14, 1990 | Community FS & La | $1.98B |
| Dec 14, 1990 | Comfed Savings Bank | $1.40B |
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