Bank Failure
First National Bank of Texas
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Closed July 23, 1992 · Webster, TX · FDIC Cert #26676.
- Closing date
- July 23, 1992
- Headquarters
- Webster, TX
- FDIC Certificate
- 26676
- Total assets at closing
- $92.1M
- Total deposits at closing
- $91.3M
- Estimated loss to the insurance fund
- $14.2M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- First Prosperity Bank
Context
On July 23, 1992, regulators closed First National Bank of Texas, headquartered in Webster, TX. At closing, the institution held approximately $92.1M in assets and $91.3M in deposits. The FDIC record names First Prosperity Bank as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $14.2M.
By assets at closing this is the 1253rd largest of the 3,526 bank failures in the FDIC record, and the 91st of 179 in 1992. 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 National Bank of Texas fail?
First National Bank of Texas was closed by regulators on July 23, 1992.
Who acquired First National Bank of Texas?
The FDIC record names First Prosperity Bank as the acquiring institution in the resolution of First National Bank of Texas.
How big was First National Bank of Texas when it failed?
First National Bank of Texas had approximately $92.1M in total assets and $91.3M in deposits at the time of failure.
Other failures in 1992
| Date | Bank | Assets |
|---|---|---|
| Dec 18, 1992 | The Rushville National Bank | $41.6M |
| Dec 18, 1992 | The Bremen State Bank | $2.7M |
| Dec 11, 1992 | Meritor Savings Bank | $4.13B |
| Dec 11, 1992 | Eastland Savings Bank | $515.3M |
| Dec 11, 1992 | Eastland Bank | $85.4M |
| Dec 11, 1992 | Sailors & Merchants B&T Co. | $34.8M |
| Dec 8, 1992 | Palm Beach FSA | $59.4M |
| Dec 4, 1992 | Carteret FSB | $4.83B |
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