Bank Failure
Guaranty Bond State Bank
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Closed July 27, 1982 · Redwater, TX · FDIC Cert #12767.
- Closing date
- July 27, 1982
- Headquarters
- Redwater, TX
- FDIC Certificate
- 12767
- Total assets at closing
- $14.1M
- Total deposits at closing
- $12.4M
- Estimated loss to the insurance fund
- $3.4M
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
- Acquirer
- First Bank&trust Redwate
Context
On July 27, 1982, regulators closed Guaranty Bond State Bank, headquartered in Redwater, TX. At closing, the institution held approximately $14.1M in assets and $12.4M in deposits. The FDIC record names First Bank&trust Redwate as the acquiring institution in the resolution. The estimated cost to the FDIC insurance fund was approximately $3.4M.
By assets at closing this is the 2576th largest of the 3,526 bank failures in the FDIC record, and the 20th of 34 in 1982. 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 Guaranty Bond State Bank fail?
Guaranty Bond State Bank was closed by regulators on July 27, 1982.
Who acquired Guaranty Bond State Bank?
The FDIC record names First Bank&trust Redwate as the acquiring institution in the resolution of Guaranty Bond State Bank.
How big was Guaranty Bond State Bank when it failed?
Guaranty Bond State Bank had approximately $14.1M in total assets and $12.4M in deposits at the time of failure.
Other failures in 1982
| Date | Bank | Assets |
|---|---|---|
| Dec 16, 1982 | The Security State Bank | $11.6M |
| Dec 10, 1982 | Bollinger County Bank | $15.9M |
| Nov 19, 1982 | North Kansas Sa | $36.5M |
| Nov 19, 1982 | Ranchlander National Bank | $4.3M |
| Nov 12, 1982 | Bank of Quitman | $17.4M |
| Nov 5, 1982 | The First National Bank of South Charlesto | $28.6M |
| Nov 5, 1982 | Texas BK of Amarillo | $13.1M |
| Nov 2, 1982 | Cedar Bluff Bank | $13.7M |
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