Bank Failure
The Wolfe City National Bank
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Closed July 29, 1993 · Wolfe City, TX · FDIC Cert #5592.
- Closing date
- July 29, 1993
- Headquarters
- Wolfe City, TX
- FDIC Certificate
- 5592
- Total assets at closing
- $30.4M
- Total deposits at closing
- $32.2M
- Estimated loss to the insurance fund
- $4.9M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Sulphur Springs State Ba
Context
On July 29, 1993, regulators closed The Wolfe City National Bank, headquartered in Wolfe City, TX. At closing, the institution held approximately $30.4M in assets and $32.2M in deposits. The FDIC record names Sulphur Springs State Ba as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $4.9M.
By assets at closing this is the 2044th largest of the 3,526 bank failures in the FDIC record, and the 35th of 50 in 1993. 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 Wolfe City National Bank fail?
The Wolfe City National Bank was closed by regulators on July 29, 1993.
Who acquired The Wolfe City National Bank?
The FDIC record names Sulphur Springs State Ba as the acquiring institution in the resolution of The Wolfe City National Bank.
How big was The Wolfe City National Bank when it failed?
The Wolfe City National Bank had approximately $30.4M in total assets and $32.2M in deposits at the time of failure.
Other failures in 1993
| Date | Bank | Assets |
|---|---|---|
| Nov 5, 1993 | Century Thrift and Loan | $31.9M |
| Oct 29, 1993 | The Bank of San Diego | $294.3M |
| Oct 21, 1993 | Mid City Bank, N.A. | $105.7M |
| Oct 15, 1993 | Brentwood Thrift and Loan Association | $12.9M |
| Oct 14, 1993 | Plaza Bank, N.A. of New Braunfels | $54.6M |
| Sep 24, 1993 | Westside Bank, FSB | $81.7M |
| Sep 24, 1993 | Western United National Bank | $23.7M |
| Sep 17, 1993 | Regent Thrift and Loan Association | $35.8M |
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