# CORNERSTONE FEDERAL SAVINGS

> **Failed bank** · HOUSTON, TX · failed 1989-07-13 · SL · FDIC cost $27M

## What happened

CORNERSTONE FEDERAL SAVINGS of HOUSTON, TX was closed by state regulators on **1989-07-13**. The FDIC was named receiver.

**Resolution:** Purchase & Assumption — acquiring bank assumed deposits + bought assets

Deposits were transferred to **GREAT SOUTHWEST SAVINGS, FA** (HOUSTON, TX). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 2415
- **FDIC Certificate:** 32398
- **FDIC FIN:** 7017
- **Bank name:** CORNERSTONE FEDERAL SAVINGS
- **Location:** HOUSTON, TX
- **Failure date:** 1989-07-13
- **FDIC resolution date:** 1990-05-18
- **Charter type:** SL
- **Resolution type:** Purchase & Assumption — acquiring bank assumed deposits + bought assets
- **Estimated FDIC DIF cost:** $27M
- **Deposits at failure:** $110M
- **Assets at failure:** $112M
- **Acquiring bank:** GREAT SOUTHWEST SAVINGS, FA (HOUSTON, TX)

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=CORNERSTONE%20FEDERAL%20SAVINGS

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, CORNERSTONE FEDERAL SAVINGS (FDIC ID 2415), failed 1989-07-13. Retrieved via AI Analytics 2026-05-18 from https://api.ai-analytics.org/failed-bank/2415.

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