FDIC Open-Bank Assistance
State S&LA of Lubbock
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Assistance provided December 20, 1985 · Lubbock, TX · FDIC Cert #31117.
- Assistance date
- December 20, 1985
- Headquarters
- Lubbock, TX
- FDIC Certificate
- 31117
- Total assets at the time
- $841.6M
- Total deposits at the time
- $815.0M
- Estimated loss to the insurance fund
- $1.15B
- Insurance fund
- Federal Savings and Loan Insurance Corporation (FSLIC)
- Resolution
- Open-bank assistance (the institution stayed open)
- Acquirer
- Merabank Texas FSB
Context
On December 20, 1985, the FDIC provided open-bank assistance to State S&LA of Lubbock, headquartered in Lubbock, TX. The institution continued operating. At the time it held approximately $841.6M in assets and $815.0M in deposits. The FDIC record names Merabank Texas FSB as the acquiring institution in the assisted transaction. The estimated cost to the Federal Savings and Loan Insurance Corporation (FSLIC) was approximately $1.15B.
The FDIC record for 1985 holds 139 failures and 41 open-bank assistance transactions. 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 the FDIC provide assistance to State S&LA of Lubbock?
State S&LA of Lubbock received FDIC open-bank assistance on December 20, 1985; it did not fail.
How big was State S&LA of Lubbock at the time of assistance?
State S&LA of Lubbock had approximately $841.6M in total assets and $815.0M in deposits at the time of assistance.
Bank failures in 1985
| Date | Bank | Assets |
|---|---|---|
| Dec 20, 1985 | First City Bank | $35.8M |
| Dec 20, 1985 | State Bank of Frost | $7.7M |
| Dec 19, 1985 | Princeton State Bank | $18.4M |
| Dec 19, 1985 | Farmers State Bank | $12.5M |
| Dec 19, 1985 | Bank of Panama | $4.4M |
| Dec 19, 1985 | Farmers & Merchants Bank | $3.3M |
| Dec 13, 1985 | The First National Bank in Lincoln County | $32.0M |
| Dec 13, 1985 | Lake National Bank | $19.8M |
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