FDIC Open-Bank Assistance
Citizens State Bank
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Assistance provided December 10, 1992 · Princeton, TX · FDIC Cert #9015.
- Assistance date
- December 10, 1992
- Headquarters
- Princeton, TX
- FDIC Certificate
- 9015
- Total assets at the time
- $12.9M
- Total deposits at the time
- $12.8M
- Estimated loss to the insurance fund
- $247K
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Open-bank assistance (the institution stayed open)
- Acquirer
- Citizens State Bank
Context
On December 10, 1992, the FDIC provided open-bank assistance to Citizens State Bank, headquartered in Princeton, TX. The institution continued operating. At the time it held approximately $12.9M in assets and $12.8M in deposits. The assistance went to the bank itself; no other institution acquired it. The estimated cost to the Bank Insurance Fund (BIF) was approximately $247K.
The FDIC record for 1992 holds 179 failures and 2 open-bank assistance transactions. 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 the FDIC provide assistance to Citizens State Bank?
Citizens State Bank received FDIC open-bank assistance on December 10, 1992; it did not fail.
How big was Citizens State Bank at the time of assistance?
Citizens State Bank had approximately $12.9M in total assets and $12.8M in deposits at the time of assistance.
Bank failures in 1992
| Date | Bank | Assets |
|---|---|---|
| Dec 18, 1992 | The Rushville National Bank | $41.6M |
| Dec 18, 1992 | The Bremen State Bank | $2.7M |
| Dec 11, 1992 | Meritor Savings Bank | $4.13B |
| Dec 11, 1992 | Eastland Savings Bank | $515.3M |
| Dec 11, 1992 | Eastland Bank | $85.4M |
| Dec 11, 1992 | Sailors & Merchants B&T Co. | $34.8M |
| Dec 8, 1992 | Palm Beach FSA | $59.4M |
| Dec 4, 1992 | Carteret FSB | $4.83B |
Explore: all failures · TX bank events · 1992 events · events hub