Bank Failure
Collin County State Bank
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Closed February 25, 1988 · Melissa, TX · FDIC Cert #25743.
- Closing date
- February 25, 1988
- Headquarters
- Melissa, TX
- FDIC Certificate
- 25743
- Total assets at closing
- $12.5M
- Total deposits at closing
- $12.6M
- Estimated loss to the insurance fund
- $3.4M
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
- Acquirer
- Willow Bend National Ban
Context
On February 25, 1988, regulators closed Collin County State Bank, headquartered in Melissa, TX. At closing, the institution held approximately $12.5M in assets and $12.6M in deposits. The FDIC record names Willow Bend National Ban as the acquiring institution in the resolution. The estimated cost to the FDIC insurance fund was approximately $3.4M.
By assets at closing this is the 2657th largest of the 3,526 bank failures in the FDIC record, and the 189th of 232 in 1988. 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 Collin County State Bank fail?
Collin County State Bank was closed by regulators on February 25, 1988.
Who acquired Collin County State Bank?
The FDIC record names Willow Bend National Ban as the acquiring institution in the resolution of Collin County State Bank.
How big was Collin County State Bank when it failed?
Collin County State Bank had approximately $12.5M in total assets and $12.6M in deposits at the time of failure.
Other failures in 1988
| Date | Bank | Assets |
|---|---|---|
| Dec 16, 1988 | First Industrial Bank of Rocky Ford | $12.5M |
| Dec 16, 1988 | First Southwest Bank | $9.8M |
| Dec 15, 1988 | Texas National Bank | $37.7M |
| Dec 15, 1988 | First National Bank in Center | $26.1M |
| Dec 15, 1988 | Crescent City Bank & Trust Company | $24.0M |
| Dec 15, 1988 | Texas Bank of Plano | $15.1M |
| Dec 15, 1988 | First National Bank in Bogata | $13.2M |
| Dec 9, 1988 | Silverado S&LA | $2.32B |
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