Data / Bank failures / 1988 / Bank of Santa Fe
Bank of Santa Fe, Santa Fe, NM: received FDIC assistance April 20, 1988
Bank of Santa Fe in Santa Fe, New Mexico, received open bank assistance from the FDIC on April 20, 1988. It held $95.6 million in assets and $91.5 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $22 million (23% of its assets). By assets it was the 193rd largest of 470 banks closed or assisted in 1988.
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The FDIC's record
- Closed
- April 20, 1988
- Type
- Open bank assistance
- How it was resolved
- Open bank assistance: the FDIC assisted the bank without closing it
- Acquirer
- Bank of Santa Fe, Santa Fe, NM
- Total assets
- $95,616,000
- Total deposits
- $91,508,000
- Estimated cost to the FDIC
- $21,986,472 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- FDIC
- FDIC certificate
- 18556
Other bank failures in New Mexico, 1986 to 1990
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| 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 |
| The Bank of Ruidoso | Ruidoso | February 23, 1990 | $27.8 million | $26.5 million | $12.7 million | United New Mexico Bank at A |
| Abq Bank, A FSB | Albuquerque | February 9, 1990 | $2.02 billion | $1.47 billion | $434.1 million | Bank of America NM, NA |
| Silver Savings Assoc. | Silver City | December 21, 1989 | $32.2 million | $27.7 million | $7.3 million | First New Mexico Bank |
| New Mexico Fsa | Albuquerque | July 20, 1989 | $240.7 million | $194 million | $48.2 million | First NB in Albuquerque |
All bank failures in 1988 · 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.