Bank failure · TX
Spindletop Sa (Beaumont, TX) — failed March 16, 1989
Spindletop Sa of Beaumont, Texas was closed on March 16, 1989 and resolved through a insured deposit transfer. First City Bank, NA (TX) took over its insured deposits. At failure it held $180.5M in assets and $325.3M in deposits. The FDIC's estimated loss on the failure is $266.8M (147.8% of assets).
- Closing date
- March 16, 1989
- FDIC certificate #
- 32129
- Resolution
- Insured deposit transfer (failure)
- Acquiring institution
- First City Bank, NA
- Insurance fund
- RTC
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