Bank Failure
First-Taylor National Bank
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Closed May 17, 1990 · Taylor, TX · FDIC Cert #5547.
- Closing date
- May 17, 1990
- Headquarters
- Taylor, TX
- FDIC Certificate
- 5547
- Total assets at closing
- $74.0M
- Total deposits at closing
- $79.8M
- Estimated loss to the insurance fund
- $10.9M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Citizens State Bank
Context
On May 17, 1990, regulators closed First-Taylor National Bank, headquartered in Taylor, TX. At closing, the institution held approximately $74.0M in assets and $79.8M in deposits. The FDIC record names Citizens State Bank as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $10.9M.
By assets at closing this is the 1382nd largest of the 3,526 bank failures in the FDIC record, and the 178th 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-Taylor National Bank fail?
First-Taylor National Bank was closed by regulators on May 17, 1990.
Who acquired First-Taylor National Bank?
The FDIC record names Citizens State Bank as the acquiring institution in the resolution of First-Taylor National Bank.
How big was First-Taylor National Bank when it failed?
First-Taylor National Bank had approximately $74.0M in total assets and $79.8M 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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