Bank failure · TX
Citizens Bank (Galveston, TX) — failed October 12, 1989
Citizens Bank of Galveston, Texas was closed on October 12, 1989 and resolved through a purchase and assumption. Bank of Galveston, National (TX) took over its insured deposits. At failure it held $31.3M in assets and $32.1M in deposits. The FDIC's estimated loss on the failure is $5.4M (17.2% of assets).
- Closing date
- October 12, 1989
- FDIC certificate #
- 18876
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Bank of Galveston, National
- Insurance fund
- BIF
Other failures in 1989
- Columbia Fsa TX
- Silver Savings Assoc. NM
- United Community Bank CA
- First City National Bank and Trust NY
- First American Bank and Trust FL
- Yorkridge-Calvert Federal Savings MD
- Louisiana Savings Assn. LA
- Red River S & L Assoc. LA
- North Side State Bank OK
- First Acadiana Bank LA
- Canyon Lake Bank TX
- Midlothian National Bank TX
- City National Bank of Sayre OK
- City Savings, FSB NJ
- First Bank, Pineville, Louisiana LA
- Atlantic Permanent Federal VA
- Orange State Bank FL
- Aledo State Bank TX
- First Commerce National Bank AZ
- First National Bank of Frisco TX
- Atlantic National Bank VA
- Westheimer Memorial Bank, NA TX
- The Garnett S & L Assoc. KS
- Arlington Heights Savings Assoc. IL