Bank Failure
San Jacinto Savings
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Closed November 30, 1990 · Houston, TX · FDIC Cert #31058.
- Closing date
- November 30, 1990
- Headquarters
- Houston, TX
- FDIC Certificate
- 31058
- Total assets at closing
- $2.87B
- Total deposits at closing
- $2.89B
- Estimated loss to the insurance fund
- $1.70B
- Insurance fund
- Resolution Trust Corporation (RTC)
- Resolution
- Failure (closed by regulators)
- Acquirer
- United Sa of TX, FSB
Context
On November 30, 1990, regulators closed San Jacinto Savings, headquartered in Houston, TX. At closing, the institution held approximately $2.87B in assets and $2.89B in deposits. The FDIC record names United Sa of TX, FSB as the acquiring institution in the resolution. The estimated cost to the Resolution Trust Corporation (RTC) was approximately $1.70B.
By assets at closing this is the 80th largest of the 3,526 bank failures in the FDIC record, and the 13th 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 San Jacinto Savings fail?
San Jacinto Savings was closed by regulators on November 30, 1990.
Who acquired San Jacinto Savings?
The FDIC record names United Sa of TX, FSB as the acquiring institution in the resolution of San Jacinto Savings.
How big was San Jacinto Savings when it failed?
San Jacinto Savings had approximately $2.87B in total assets and $2.89B 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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