Bank Failure
The First National Bank of Worth
BankRegReports is independent of The First National Bank of Worth and never asks for online banking logins or passwords.
Closed February 14, 1991 · Wortham, TX · FDIC Cert #5594.
- Closing date
- February 14, 1991
- Headquarters
- Wortham, TX
- FDIC Certificate
- 5594
- Total assets at closing
- $7.3M
- Total deposits at closing
- $7.7M
- Estimated loss to the insurance fund
- $2.1M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Farmers State Bank
Context
On February 14, 1991, regulators closed The First National Bank of Worth, headquartered in Wortham, TX. At closing, the institution held approximately $7.3M in assets and $7.7M in deposits. The FDIC record names Farmers State Bank as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $2.1M.
By assets at closing this is the 2892nd largest of the 3,526 bank failures in the FDIC record, and the 266th of 268 in 1991. 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 Worth fail?
The First National Bank of Worth was closed by regulators on February 14, 1991.
Who acquired The First National Bank of Worth?
The FDIC record names Farmers State Bank as the acquiring institution in the resolution of The First National Bank of Worth.
How big was The First National Bank of Worth when it failed?
The First National Bank of Worth had approximately $7.3M in total assets and $7.7M in deposits at the time of failure.
Other failures in 1991
| Date | Bank | Assets |
|---|---|---|
| Dec 20, 1991 | North Ridge Bank | $94.3M |
| Dec 13, 1991 | Investors FSB | $2.06B |
| Dec 13, 1991 | The Bank Mart | $578.2M |
| Dec 13, 1991 | Merchants National Bank | $153.6M |
| Dec 13, 1991 | Bank of East Hartford | $36.6M |
| Dec 13, 1991 | Federal Finance & Mortgage, LTD | $7.7M |
| Dec 12, 1991 | Granite Co-Operative Bank | $103.8M |
| Dec 6, 1991 | Saybrook Bank and Trust Company | $77.3M |
Explore: all failures · TX bank events · Bank failures in Texas · 1991 events · events hub