Bank Failure
Jackson Exchange Bank & Trust Co
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Closed May 7, 1992 · Jackson, MO · FDIC Cert #9380.
- Closing date
- May 7, 1992
- Headquarters
- Jackson, MO
- FDIC Certificate
- 9380
- Total assets at closing
- $123.3M
- Total deposits at closing
- $127.8M
- Estimated loss to the insurance fund
- $16.4M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Boatmens NB Cape Girarde
Context
On May 7, 1992, regulators closed Jackson Exchange Bank & Trust Co, headquartered in Jackson, MO. At closing, the institution held approximately $123.3M in assets and $127.8M in deposits. The FDIC record names Boatmens NB Cape Girarde as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $16.4M.
By assets at closing this is the 1077th largest of the 3,526 bank failures in the FDIC record, and the 81st of 179 in 1992. 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 Jackson Exchange Bank & Trust Co fail?
Jackson Exchange Bank & Trust Co was closed by regulators on May 7, 1992.
Who acquired Jackson Exchange Bank & Trust Co?
The FDIC record names Boatmens NB Cape Girarde as the acquiring institution in the resolution of Jackson Exchange Bank & Trust Co.
How big was Jackson Exchange Bank & Trust Co when it failed?
Jackson Exchange Bank & Trust Co had approximately $123.3M in total assets and $127.8M in deposits at the time of failure.
Other failures in 1992
| Date | Bank | Assets |
|---|---|---|
| Dec 18, 1992 | The Rushville National Bank | $41.6M |
| Dec 18, 1992 | The Bremen State Bank | $2.7M |
| Dec 11, 1992 | Meritor Savings Bank | $4.13B |
| Dec 11, 1992 | Eastland Savings Bank | $515.3M |
| Dec 11, 1992 | Eastland Bank | $85.4M |
| Dec 11, 1992 | Sailors & Merchants B&T Co. | $34.8M |
| Dec 8, 1992 | Palm Beach FSA | $59.4M |
| Dec 4, 1992 | Carteret FSB | $4.83B |
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