Bank Failure
The Central National Bank of San Angelo
BankRegReports is independent of The Central National Bank of San Angelo and never asks for online banking logins or passwords.
Closed March 22, 1990 · San Angelo, TX · FDIC Cert #5507.
- Closing date
- March 22, 1990
- Headquarters
- San Angelo, TX
- FDIC Certificate
- 5507
- Total assets at closing
- $147.4M
- Total deposits at closing
- $148.2M
- Estimated loss to the insurance fund
- $45.1M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- First National Bank at Lubb
Context
On March 22, 1990, regulators closed The Central National Bank of San Angelo, headquartered in San Angelo, TX. At closing, the institution held approximately $147.4M in assets and $148.2M in deposits. The FDIC record names First National Bank at Lubb as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $45.1M.
By assets at closing this is the 955th largest of the 3,526 bank failures in the FDIC record, and the 121st 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 The Central National Bank of San Angelo fail?
The Central National Bank of San Angelo was closed by regulators on March 22, 1990.
Who acquired The Central National Bank of San Angelo?
The FDIC record names First National Bank at Lubb as the acquiring institution in the resolution of The Central National Bank of San Angelo.
How big was The Central National Bank of San Angelo when it failed?
The Central National Bank of San Angelo had approximately $147.4M in total assets and $148.2M 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 |
Explore: all failures · TX bank events · 1990 events · events hub