Bank Failure
The First National Bank of San Marcos
BankRegReports is independent of The First National Bank of San Marcos and never asks for online banking logins or passwords.
Closed January 4, 1990 · San Marcos, TX · FDIC Cert #5517.
- Closing date
- January 4, 1990
- Headquarters
- San Marcos, TX
- FDIC Certificate
- 5517
- Total assets at closing
- $77.6M
- Total deposits at closing
- $80.0M
- Estimated loss to the insurance fund
- $22.8M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Victoria Bank & Trust Compa
Context
On January 4, 1990, regulators closed The First National Bank of San Marcos, headquartered in San Marcos, TX. At closing, the institution held approximately $77.6M in assets and $80.0M in deposits. The FDIC record names Victoria Bank & Trust Compa as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $22.8M.
By assets at closing this is the 1356th largest of the 3,526 bank failures in the FDIC record, and the 175th 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 First National Bank of San Marcos fail?
The First National Bank of San Marcos was closed by regulators on January 4, 1990.
Who acquired The First National Bank of San Marcos?
The FDIC record names Victoria Bank & Trust Compa as the acquiring institution in the resolution of The First National Bank of San Marcos.
How big was The First National Bank of San Marcos when it failed?
The First National Bank of San Marcos had approximately $77.6M in total assets and $80.0M 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