Bank Failure
First State Bank of Rising Star
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Closed September 20, 1990 · Rising Star, TX · FDIC Cert #10714.
- Closing date
- September 20, 1990
- Headquarters
- Rising Star, TX
- FDIC Certificate
- 10714
- Total assets at closing
- $14.0M
- Total deposits at closing
- $13.9M
- Estimated loss to the insurance fund
- $2.7M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- The Peoples State Bank
Context
On September 20, 1990, regulators closed First State Bank of Rising Star, headquartered in Rising Star, TX. At closing, the institution held approximately $14.0M in assets and $13.9M in deposits. The FDIC record names The Peoples State Bank as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $2.7M.
By assets at closing this is the 2583rd largest of the 3,526 bank failures in the FDIC record, and the 340th 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 State Bank of Rising Star fail?
First State Bank of Rising Star was closed by regulators on September 20, 1990.
Who acquired First State Bank of Rising Star?
The FDIC record names The Peoples State Bank as the acquiring institution in the resolution of First State Bank of Rising Star.
How big was First State Bank of Rising Star when it failed?
First State Bank of Rising Star had approximately $14.0M in total assets and $13.9M 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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