Bank Failure
Iredell State Bank
BankRegReports is independent of Iredell State Bank and never asks for online banking logins or passwords.
Closed July 12, 1990 · Iredell, TX · FDIC Cert #15274.
- Closing date
- July 12, 1990
- Headquarters
- Iredell, TX
- FDIC Certificate
- 15274
- Total assets at closing
- $10.0M
- Total deposits at closing
- $10.1M
- Estimated loss to the insurance fund
- $2.4M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- First Security Bank - Cranf
Context
On July 12, 1990, regulators closed Iredell State Bank, headquartered in Iredell, TX. At closing, the institution held approximately $10.0M in assets and $10.1M in deposits. The FDIC record names First Security Bank - Cranf as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $2.4M.
By assets at closing this is the 2767th largest of the 3,526 bank failures in the FDIC record, and the 363rd 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 Iredell State Bank fail?
Iredell State Bank was closed by regulators on July 12, 1990.
Who acquired Iredell State Bank?
The FDIC record names First Security Bank - Cranf as the acquiring institution in the resolution of Iredell State Bank.
How big was Iredell State Bank when it failed?
Iredell State Bank had approximately $10.0M in total assets and $10.1M 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