Bank Failure
Sharpstown State Bank
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Closed January 25, 1971 · Houston, TX · FDIC Cert #18254.
- Closing date
- January 25, 1971
- Headquarters
- Houston, TX
- FDIC Certificate
- 18254
- Total assets at closing
- $78.9M
- Total deposits at closing
- $66.8M
- Estimated loss to the insurance fund
- Not published (the FDIC feed carries no estimate for this failure)
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
Context
On January 25, 1971, regulators closed Sharpstown State Bank, headquartered in Houston, TX. At closing, the institution held approximately $78.9M in assets and $66.8M in deposits. The FDIC record does not name an acquiring institution.
By assets at closing this is the 1346th largest of the 3,526 bank failures in the FDIC record, and the 2nd of 6 in 1971. It falls in the period the record labels Postwar Stability (1945-1979), a period with 161 failures peaking at 16 in 1976.
Three decades of regulated calm — Reg Q ceilings, geographic branching limits, and high industry profits kept failures rare.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did Sharpstown State Bank fail?
Sharpstown State Bank was closed by regulators on January 25, 1971.
How big was Sharpstown State Bank when it failed?
Sharpstown State Bank had approximately $78.9M in total assets and $66.8M in deposits at the time of failure.
Other failures in 1971
| Date | Bank | Assets |
|---|---|---|
| Dec 30, 1971 | First Community State Bank of Savannah | $3.7M |
| Nov 30, 1971 | The First National Bank of Cripple Creek | $1.3M |
| Apr 5, 1971 | Bank of Salem | $679K |
| Feb 17, 1971 | Farmers State Bank of Carlock | $2.2M |
| Feb 16, 1971 | Birmingham-Bloomfield Bank | $109.7M |
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