Bank Failure
First State Bank
BankRegReports is independent of First State Bank and never asks for online banking logins or passwords.
Closed April 4, 1991 · Weimar, TX · FDIC Cert #11576.
- Closing date
- April 4, 1991
- Headquarters
- Weimar, TX
- FDIC Certificate
- 11576
- Total assets at closing
- $26.0M
- Total deposits at closing
- $26.2M
- Estimated loss to the insurance fund
- $2.2M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Hill Bank & Trust Co.
Context
On April 4, 1991, regulators closed First State Bank, headquartered in Weimar, TX. At closing, the institution held approximately $26.0M in assets and $26.2M in deposits. The FDIC record names Hill Bank & Trust Co. as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $2.2M.
By assets at closing this is the 2152nd largest of the 3,526 bank failures in the FDIC record, and the 218th of 268 in 1991. 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 State Bank fail?
First State Bank was closed by regulators on April 4, 1991.
Who acquired First State Bank?
The FDIC record names Hill Bank & Trust Co. as the acquiring institution in the resolution of First State Bank.
How big was First State Bank when it failed?
First State Bank had approximately $26.0M in total assets and $26.2M in deposits at the time of failure.
Other failures in 1991
| Date | Bank | Assets |
|---|---|---|
| Dec 20, 1991 | North Ridge Bank | $94.3M |
| Dec 13, 1991 | Investors FSB | $2.06B |
| Dec 13, 1991 | The Bank Mart | $578.2M |
| Dec 13, 1991 | Merchants National Bank | $153.6M |
| Dec 13, 1991 | Bank of East Hartford | $36.6M |
| Dec 13, 1991 | Federal Finance & Mortgage, LTD | $7.7M |
| Dec 12, 1991 | Granite Co-Operative Bank | $103.8M |
| Dec 6, 1991 | Saybrook Bank and Trust Company | $77.3M |
Explore: all failures · TX bank events · 1991 events · events hub