Bank Failure
Liberty City State Bank
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Closed March 15, 1990 · Liberty City, TX · FDIC Cert #23065.
- Closing date
- March 15, 1990
- Headquarters
- Liberty City, TX
- FDIC Certificate
- 23065
- Total assets at closing
- $15.2M
- Total deposits at closing
- $15.0M
- Estimated loss to the insurance fund
- $1.5M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- The First National Bank of
Context
On March 15, 1990, regulators closed Liberty City State Bank, headquartered in Liberty City, TX. At closing, the institution held approximately $15.2M in assets and $15.0M in deposits. The FDIC record names The First National Bank of as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $1.5M.
By assets at closing this is the 2533rd largest of the 3,526 bank failures in the FDIC record, and the 336th 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 Liberty City State Bank fail?
Liberty City State Bank was closed by regulators on March 15, 1990.
Who acquired Liberty City State Bank?
The FDIC record names The First National Bank of as the acquiring institution in the resolution of Liberty City State Bank.
How big was Liberty City State Bank when it failed?
Liberty City State Bank had approximately $15.2M in total assets and $15.0M 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 |
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