Bank Failure
CY-Fair Bank, N.A.
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Closed April 14, 1988 · Harris County, TX · FDIC Cert #24765.
- Closing date
- April 14, 1988
- Headquarters
- Harris County, TX
- FDIC Certificate
- 24765
- Total assets at closing
- $13.9M
- Total deposits at closing
- $14.2M
- Estimated loss to the insurance fund
- $4.8M
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
- Acquirer
- Charter NB Willowbrook
Context
On April 14, 1988, regulators closed CY-Fair Bank, N.A., headquartered in Harris County, TX. At closing, the institution held approximately $13.9M in assets and $14.2M in deposits. The FDIC record names Charter NB Willowbrook as the acquiring institution in the resolution. The estimated cost to the FDIC insurance fund was approximately $4.8M.
By assets at closing this is the 2585th largest of the 3,526 bank failures in the FDIC record, and the 181st 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 CY-Fair Bank, N.A. fail?
CY-Fair Bank, N.A. was closed by regulators on April 14, 1988.
Who acquired CY-Fair Bank, N.A.?
The FDIC record names Charter NB Willowbrook as the acquiring institution in the resolution of CY-Fair Bank, N.A.
How big was CY-Fair Bank, N.A. when it failed?
CY-Fair Bank, N.A. had approximately $13.9M in total assets and $14.2M 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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