Bank Failure
The Kerens Bank
BankRegReports is independent of The Kerens Bank and never asks for online banking logins or passwords.
Closed July 25, 1991 · Kerens, TX · FDIC Cert #3283.
- Closing date
- July 25, 1991
- Headquarters
- Kerens, TX
- FDIC Certificate
- 3283
- Total assets at closing
- $19.5M
- Total deposits at closing
- $19.8M
- Estimated loss to the insurance fund
- $5.1M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Cedar Creek Bank
Context
On July 25, 1991, regulators closed The Kerens Bank, headquartered in Kerens, TX. At closing, the institution held approximately $19.5M in assets and $19.8M in deposits. The FDIC record names Cedar Creek Bank as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $5.1M.
By assets at closing this is the 2360th largest of the 3,526 bank failures in the FDIC record, and the 236th 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 Kerens Bank fail?
The Kerens Bank was closed by regulators on July 25, 1991.
Who acquired The Kerens Bank?
The FDIC record names Cedar Creek Bank as the acquiring institution in the resolution of The Kerens Bank.
How big was The Kerens Bank when it failed?
The Kerens Bank had approximately $19.5M in total assets and $19.8M 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 · 1991 events · events hub