Bank Failure
Farmers State Bank of Madisonvillle
Closed November 29, 1990 · Madisonville, TX · FDIC Cert #1204.
- Closing date
- November 29, 1990
- Headquarters
- Madisonville, TX
- FDIC Certificate
- 1204
- Total assets at closing
- $34.8M
- Total deposits at closing
- $34.6M
- Estimated loss to DIF
- $1.6M
- Resolution
- Failure (closed by regulators)
- Acquirer
- First Bank
Context
On November 29, 1990, regulators closed Farmers State Bank of Madisonvillle, headquartered in Madisonville, TX. At closing, the institution held approximately $34.8M in assets and $34.6M in deposits. The FDIC arranged a resolution under which First Bank acquired the failed bank's operations. The estimated cost to the FDIC Deposit Insurance Fund was approximately $1.6M.
By assets at closing this is the 1915th largest of the 3,526 bank failures in the FDIC record, and the 259th 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 Farmers State Bank of Madisonvillle fail?
Farmers State Bank of Madisonvillle was closed by regulators on November 29, 1990.
Who acquired Farmers State Bank of Madisonvillle?
First Bank acquired the failed bank's deposits and operations on November 29, 1990 under an FDIC-brokered resolution.
How big was Farmers State Bank of Madisonvillle when it failed?
Farmers State Bank of Madisonvillle had approximately $34.8M in total assets and $34.6M 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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