Bank Failure
The Red River Bank
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Closed February 23, 1990 · Red River, NM · FDIC Cert #24752.
- Closing date
- February 23, 1990
- Headquarters
- Red River, NM
- FDIC Certificate
- 24752
- Total assets at closing
- $6.5M
- Total deposits at closing
- $6.5M
- Estimated loss to the insurance fund
- $2.1M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Centinel Bank of Taos
Context
On February 23, 1990, regulators closed The Red River Bank, headquartered in Red River, NM. At closing, the institution held approximately $6.5M in assets and $6.5M in deposits. The FDIC record names Centinel Bank of Taos 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 2930th largest of the 3,526 bank failures in the FDIC record, and the 377th 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 Red River Bank fail?
The Red River Bank was closed by regulators on February 23, 1990.
Who acquired The Red River Bank?
The FDIC record names Centinel Bank of Taos as the acquiring institution in the resolution of The Red River Bank.
How big was The Red River Bank when it failed?
The Red River Bank had approximately $6.5M in total assets and $6.5M 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 |
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