Bank Failure
The Citizens Bank
BankRegReports is independent of The Citizens Bank and never asks for online banking logins or passwords.
Closed January 10, 1992 · Dallas, GA · FDIC Cert #18720.
- Closing date
- January 10, 1992
- Headquarters
- Dallas, GA
- FDIC Certificate
- 18720
- Total assets at closing
- $60.6M
- Total deposits at closing
- $59.1M
- Estimated loss to the insurance fund
- $12.7M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- First NB of Paulding Cou
Context
On January 10, 1992, regulators closed The Citizens Bank, headquartered in Dallas, GA. At closing, the institution held approximately $60.6M in assets and $59.1M in deposits. The FDIC record names First NB of Paulding Cou as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $12.7M.
By assets at closing this is the 1523rd largest of the 3,526 bank failures in the FDIC record, and the 110th of 179 in 1992. 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 Citizens Bank fail?
The Citizens Bank was closed by regulators on January 10, 1992.
Who acquired The Citizens Bank?
The FDIC record names First NB of Paulding Cou as the acquiring institution in the resolution of The Citizens Bank.
How big was The Citizens Bank when it failed?
The Citizens Bank had approximately $60.6M in total assets and $59.1M in deposits at the time of failure.
Other failures in 1992
| Date | Bank | Assets |
|---|---|---|
| Dec 18, 1992 | The Rushville National Bank | $41.6M |
| Dec 18, 1992 | The Bremen State Bank | $2.7M |
| Dec 11, 1992 | Meritor Savings Bank | $4.13B |
| Dec 11, 1992 | Eastland Savings Bank | $515.3M |
| Dec 11, 1992 | Eastland Bank | $85.4M |
| Dec 11, 1992 | Sailors & Merchants B&T Co. | $34.8M |
| Dec 8, 1992 | Palm Beach FSA | $59.4M |
| Dec 4, 1992 | Carteret FSB | $4.83B |
Explore: all failures · GA bank events · 1992 events · events hub