Bank Failure
Oak Hill National Bank
Closed January 12, 1989 · Travis County, TX · FDIC Cert #26655.
- Closing date
- January 12, 1989
- Headquarters
- Travis County, TX
- FDIC Certificate
- 26655
- Total assets at closing
- $18.2M
- Total deposits at closing
- $18.2M
- Estimated loss to DIF
- $5.5M
- Resolution
- Failure (closed by regulators)
- Acquirer
- Community National Bank
Context
On January 12, 1989, regulators closed Oak Hill National Bank, headquartered in Travis County, TX. At closing, the institution held approximately $18.2M in assets and $18.2M in deposits. The FDIC arranged a resolution under which Community National Bank acquired the failed bank's operations. The estimated cost to the FDIC Deposit Insurance Fund was approximately $5.5M.
By assets at closing this is the 2411th largest of the 3,524 bank failures in the FDIC record, and the 451st 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 Oak Hill National Bank fail?
Oak Hill National Bank was closed by regulators on January 12, 1989.
Who acquired Oak Hill National Bank?
Community National Bank acquired the failed bank's deposits and operations on January 12, 1989 under an FDIC-brokered resolution.
How big was Oak Hill National Bank when it failed?
Oak Hill National Bank had approximately $18.2M in total assets and $18.2M 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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