Data / Bank failures / 1990 / Abq Bank, A FSB
Abq Bank, A FSB, Albuquerque, NM: failed February 9, 1990
Abq Bank, A FSB in Albuquerque, New Mexico, failed on February 9, 1990. Bank of America NM, NA of Albuquerque, NM, took over its deposits. It held $2.02 billion in assets and $1.47 billion in deposits at its last report. The FDIC estimates the cost to its insurance fund at $434.1 million (21.5% of its assets). By assets it was the 16th largest of 382 banks closed or assisted in 1990.
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The FDIC's record
- Closed
- February 9, 1990
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Bank of America NM, NA, Albuquerque, NM
- Total assets
- $2,018,703,000
- Total deposits
- $1,467,840,000
- Estimated cost to the FDIC
- $434,134,206 (estimate as of July 31, 2026)
- Charter
- Savings bank
- Insurance fund
- RTC
- FDIC certificate
- 29127
Other bank failures in New Mexico, 1988 to 1992
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Liberty National Bank | Lovington | May 23, 1991 | $51.4 million | $51.6 million | $3.9 million | Western Commerce Bank |
| Security FS & La of Albuquerque | Albuquerque | May 3, 1991 | $261.7 million | $193.4 million | $29.4 million | |
| Southwest National Bank | Albuquerque | February 21, 1991 | $37.2 million | $36.5 million | $4.7 million | The Bank of New Mexico, SPR |
| American Bank, National Association | Rio Rancho | January 22, 1991 | $20.7 million | $23.3 million | $10.9 million | United New Mexico Bank at A |
| First Federal Savings Assoc. | Las Vegas | November 16, 1990 | $55.4 million | $41.4 million | $14.4 million | Bank of NM, & Las Vegas |
| First American Savings Bank, FSB | Santa Fe | August 31, 1990 | $123.6 million | $108.9 million | $57.4 million | |
| Security Federal Savings Bank | Carlsbad | May 4, 1990 | $26.9 million | $34.2 million | $15.5 million | Western Commerce Bank |
| The Red River Bank | Red River | February 23, 1990 | $6.5 million | $6.6 million | $2.1 million | Centinel Bank of Taos |
All bank failures in 1990 · All bank failures in New Mexico · The full failed bank list
Read from the FDIC's failures data (BankFind), last updated 2026-10-23. Assets and deposits are as of the last report before failure; the estimated cost is the FDIC's latest estimate of the loss to its insurance fund and changes as the receivership winds down. Free to reuse with credit to SpecStream under CC BY 4.0.