Bank Failure
First Bank of Plano
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Closed August 30, 1990 · Plano, TX · FDIC Cert #26953.
- Closing date
- August 30, 1990
- Headquarters
- Plano, TX
- FDIC Certificate
- 26953
- Total assets at closing
- $9.2M
- Total deposits at closing
- $9.6M
- Estimated loss to the insurance fund
- $1.9M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Compass Bank-Plano
Context
On August 30, 1990, regulators closed First Bank of Plano, headquartered in Plano, TX. At closing, the institution held approximately $9.2M in assets and $9.6M in deposits. The FDIC record names Compass Bank-Plano as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $1.9M.
By assets at closing this is the 2809th largest of the 3,526 bank failures in the FDIC record, and the 369th 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 First Bank of Plano fail?
First Bank of Plano was closed by regulators on August 30, 1990.
Who acquired First Bank of Plano?
The FDIC record names Compass Bank-Plano as the acquiring institution in the resolution of First Bank of Plano.
How big was First Bank of Plano when it failed?
First Bank of Plano had approximately $9.2M in total assets and $9.6M 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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