FIRST SOUTHWEST FS & LA Failed 1990
What happened
FIRST SOUTHWEST FS & LA of TYLER, TX was closed on 1990-11-30. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to CITIZENS BANK (RUSK, TX). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2952
- FDIC Certificate
- 31827
- FDIC FIN
- 7413
- Bank name
- FIRST SOUTHWEST FS & LA
- Location
- TYLER, TX
- Failure date
- 1990-11-30
- FDIC resolution date
- 1991-08-23
- Charter type
- SL
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $5M
- Deposits at failure
- $45M
- Assets at failure
- $51M
- Acquiring bank
- CITIZENS BANK (RUSK, TX)
Other banks CITIZENS BANK acquired in FDIC resolutions
- SILVER FALLS BANK (SILVERTON, OR) — failed 2009-02-20
- HARTFORD-CARLISLE SB (CARLISLE, IA) — failed 2000-01-14
- FIRST CITY, TEXAS - KOUNTZE, NA (KOUNTZE, TX) — failed 1992-10-30
- FIRST CITY, TEXAS - SOUR LAKE (SOUR LAKE, TX) — failed 1992-10-30
- THE FIRST NATIONAL BANK OF YORKTOWN (YORKTOWN, TX) — failed 1992-09-10
- FIRST FSA OF NACOGDOCHES (NACOGDOCHES, TX) — failed 1990-11-30
- THE FIRST NATIONAL BANK OF LEVELLAND (LEVELLAND, TX) — failed 1990-08-30
- TIMBERLAND FSA (NACOGDOCHES, TX) — failed 1989-03-16
- RUSK FED. S & L ASSOC. (RUSK, TX) — failed 1989-03-16
- FIRST NATIONAL BANK IN CENTER (CENTER, TX) — failed 1988-12-15