Bank Failure
The First National Bank of Yorktown
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Closed September 10, 1992 · Yorktown, TX · FDIC Cert #5596.
- Closing date
- September 10, 1992
- Headquarters
- Yorktown, TX
- FDIC Certificate
- 5596
- Total assets at closing
- $34.4M
- Total deposits at closing
- $34.5M
- Estimated loss to the insurance fund
- $7.6M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Citizens Bank
Context
On September 10, 1992, regulators closed The First National Bank of Yorktown, headquartered in Yorktown, TX. At closing, the institution held approximately $34.4M in assets and $34.5M in deposits. The FDIC record names Citizens Bank as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $7.6M.
By assets at closing this is the 1932nd largest of the 3,526 bank failures in the FDIC record, and the 142nd 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 First National Bank of Yorktown fail?
The First National Bank of Yorktown was closed by regulators on September 10, 1992.
Who acquired The First National Bank of Yorktown?
The FDIC record names Citizens Bank as the acquiring institution in the resolution of The First National Bank of Yorktown.
How big was The First National Bank of Yorktown when it failed?
The First National Bank of Yorktown had approximately $34.4M in total assets and $34.5M 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 |
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