Bank Failure
Village Green National Bank
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Closed May 9, 1991 · Jersey Village, TX · FDIC Cert #25736.
- Closing date
- May 9, 1991
- Headquarters
- Jersey Village, TX
- FDIC Certificate
- 25736
- Total assets at closing
- $29.5M
- Total deposits at closing
- $27.1M
- Estimated loss to the insurance fund
- $8.5M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Bank of America Texas, Nati
Context
On May 9, 1991, regulators closed Village Green National Bank, headquartered in Jersey Village, TX. At closing, the institution held approximately $29.5M in assets and $27.1M in deposits. The FDIC record names Bank of America Texas, Nati as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $8.5M.
By assets at closing this is the 2063rd largest of the 3,526 bank failures in the FDIC record, and the 212th 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 Village Green National Bank fail?
Village Green National Bank was closed by regulators on May 9, 1991.
Who acquired Village Green National Bank?
The FDIC record names Bank of America Texas, Nati as the acquiring institution in the resolution of Village Green National Bank.
How big was Village Green National Bank when it failed?
Village Green National Bank had approximately $29.5M in total assets and $27.1M 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 |
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