Bank Failure
First Federal Savings & Loan
Closed May 25, 1990 · New Braunfels, TX · FDIC Cert #29324.
- Closing date
- May 25, 1990
- Headquarters
- New Braunfels, TX
- FDIC Certificate
- 29324
- Total assets at closing
- $232.3M
- Total deposits at closing
- $209.0M
- Estimated loss to DIF
- $29.6M
- Resolution
- Failure (closed by regulators)
- Acquirer
- Victoria B&TC
Context
On May 25, 1990, regulators closed First Federal Savings & Loan, headquartered in New Braunfels, TX. At closing, the institution held approximately $232.3M in assets and $209.0M in deposits. The FDIC arranged a resolution under which Victoria B&TC acquired the failed bank's operations. The estimated cost to the FDIC Deposit Insurance Fund was approximately $29.6M.
By assets at closing this is the 679th largest of the 3,524 bank failures in the FDIC record, and the 89th 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 Federal Savings & Loan fail?
First Federal Savings & Loan was closed by regulators on May 25, 1990.
Who acquired First Federal Savings & Loan?
Victoria B&TC acquired the failed bank's deposits and operations on May 25, 1990 under an FDIC-brokered resolution.
How big was First Federal Savings & Loan when it failed?
First Federal Savings & Loan had approximately $232.3M in total assets and $209.0M 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 |
Explore: all failures · TX bank events · 1990 events · events hub