Bank Failure
Great Western National Bank
BankRegReports is independent of Great Western National Bank and never asks for online banking logins or passwords.
Closed September 27, 1990 · Lewisville, TX · FDIC Cert #27042.
- Closing date
- September 27, 1990
- Headquarters
- Lewisville, TX
- FDIC Certificate
- 27042
- Total assets at closing
- $13.4M
- Total deposits at closing
- $13.3M
- Estimated loss to the insurance fund
- $1.6M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- First Western National Bank
Context
On September 27, 1990, regulators closed Great Western National Bank, headquartered in Lewisville, TX. At closing, the institution held approximately $13.4M in assets and $13.3M in deposits. The FDIC record names First Western National Bank as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $1.6M.
By assets at closing this is the 2615th largest of the 3,526 bank failures in the FDIC record, and the 344th 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 Great Western National Bank fail?
Great Western National Bank was closed by regulators on September 27, 1990.
Who acquired Great Western National Bank?
The FDIC record names First Western National Bank as the acquiring institution in the resolution of Great Western National Bank.
How big was Great Western National Bank when it failed?
Great Western National Bank had approximately $13.4M in total assets and $13.3M 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