Bank Failure
Love Field National Bank
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Closed November 16, 1989 · Dallas, TX · FDIC Cert #21026.
- Closing date
- November 16, 1989
- Headquarters
- Dallas, TX
- FDIC Certificate
- 21026
- Total assets at closing
- $28.3M
- Total deposits at closing
- $29.0M
- Estimated loss to the insurance fund
- $5.9M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Hibernia National Bank in T
Context
On November 16, 1989, regulators closed Love Field National Bank, headquartered in Dallas, TX. At closing, the institution held approximately $28.3M in assets and $29.0M in deposits. The FDIC record names Hibernia National Bank in T as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $5.9M.
By assets at closing this is the 2087th largest of the 3,526 bank failures in the FDIC record, and the 401st 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 Love Field National Bank fail?
Love Field National Bank was closed by regulators on November 16, 1989.
Who acquired Love Field National Bank?
The FDIC record names Hibernia National Bank in T as the acquiring institution in the resolution of Love Field National Bank.
How big was Love Field National Bank when it failed?
Love Field National Bank had approximately $28.3M in total assets and $29.0M 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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