Bank Failure
Greater Texas Bank Southwest, N.A.
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Closed November 30, 1989 · Travis County, TX · FDIC Cert #26433.
- Closing date
- November 30, 1989
- Headquarters
- Travis County, TX
- FDIC Certificate
- 26433
- Total assets at closing
- $32.6M
- Total deposits at closing
- $33.5M
- Estimated loss to the insurance fund
- $4.0M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- NCNB Texas National Bank
Context
On November 30, 1989, regulators closed Greater Texas Bank Southwest, N.A., headquartered in Travis County, TX. At closing, the institution held approximately $32.6M in assets and $33.5M in deposits. The FDIC record names NCNB Texas National Bank as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $4.0M.
By assets at closing this is the 1983rd largest of the 3,526 bank failures in the FDIC record, and the 378th of 530 in 1989. 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 Greater Texas Bank Southwest, N.A. fail?
Greater Texas Bank Southwest, N.A. was closed by regulators on November 30, 1989.
Who acquired Greater Texas Bank Southwest, N.A.?
The FDIC record names NCNB Texas National Bank as the acquiring institution in the resolution of Greater Texas Bank Southwest, N.A.
How big was Greater Texas Bank Southwest, N.A. when it failed?
Greater Texas Bank Southwest, N.A. had approximately $32.6M in total assets and $33.5M in deposits at the time of failure.
Other failures in 1989
| Date | Bank | Assets |
|---|---|---|
| Dec 21, 1989 | Columbia FSA | $77.1M |
| Dec 21, 1989 | Silver Savings Assoc. | $32.2M |
| Dec 20, 1989 | First City National Bank and Trust | $39.5M |
| Dec 20, 1989 | United Community Bank | $32.3M |
| Dec 15, 1989 | First American Bank and Trust | $1.38B |
| Dec 14, 1989 | Yorkridge-Calvert Federal Savings | $585.8M |
| Dec 14, 1989 | Louisiana Savings Assn. | $449.3M |
| Dec 14, 1989 | First Acadiana Bank | $46.8M |
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