Bank Failure
TIMBERLAND FSA
Closed March 16, 1989 · NACOGDOCHES , TX · FDIC Cert #31907 .
- Closing date
- March 16, 1989
- Headquarters
- NACOGDOCHES , TX
- FDIC Certificate
- 31907
- Total assets at closing
- $60.3M
- Total deposits at closing
- $49.0M
- Estimated loss to DIF
- $14.3M
- Resolution type
- other
- Acquirer
- CITIZENS BANK (FDIC Cert #7391)
Context
On March 16, 1989, regulators closed TIMBERLAND FSA , headquartered in NACOGDOCHES , TX . At closing, the institution held approximately $60.3M in assets and $49.0M in deposits . The FDIC arranged a resolution under which CITIZENS BANK acquired the failed bank's operations. The estimated cost to the FDIC Deposit Insurance Fund was approximately $14.3M.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Other failures in 1989
| Date | Bank | HQ | Assets |
|---|---|---|---|
| 1989-12-21 | COLUMBIA FSA | NASSAU BAY , TX | $77.1M |
| 1989-12-21 | SILVER SAVINGS ASSOC. | SILVER CITY , NM | $32.2M |
| 1989-12-20 | FIRST CITY NATIONAL BANK AND TRUST | NEW YORK , NY | $39.5M |
| 1989-12-20 | UNITED COMMUNITY BANK | WESTLAKE VILLAGE , CA | $32.3M |
| 1989-12-15 | FIRST AMERICAN BANK AND TRUST | NORTH PALM BEACH , FL | $1.38B |
| 1989-12-14 | YORKRIDGE-CALVERT FEDERAL SAVINGS | BALTIMORE , MD | $585.8M |
| 1989-12-14 | LOUISIANA SAVINGS ASSN. | LAKE CHARLES , LA | $449.3M |
| 1989-12-14 | FIRST ACADIANA BANK | EUNICE , LA | $46.8M |
Explore: all failures · TX bank events · 1989 events · events hub