Data / Bank failures / 1986 / De Vargas S&LA Bank
De Vargas S&LA Bank, Santa Fe, NM: received FDIC assistance September 11, 1986
De Vargas S&LA Bank in Santa Fe, New Mexico, received open bank assistance from the FDIC on September 11, 1986. It held $19.1 million in assets and $16.5 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $3.4 million (17.6% of its assets). By assets it was the 138th largest of 204 banks closed or assisted in 1986.
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The FDIC's record
- Closed
- September 11, 1986
- Type
- Open bank assistance
- How it was resolved
- Open bank assistance: the FDIC assisted the bank without closing it
- Acquirer
- Charter Bank for Savings FS, Santa Fe, NM
- Total assets
- $19,062,000
- Total deposits
- $16,530,000
- Estimated cost to the FDIC
- $3,359,000 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- FSLIC
- FDIC certificate
- 31615
Other bank failures in New Mexico, 1984 to 1988
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Liberty FSB | Raton | October 7, 1988 | $130.4 million | $137.8 million | $104.6 million | |
| Bank of Santa Fe (assistance) | Santa Fe | April 20, 1988 | $95.6 million | $91.5 million | $22 million | Bank of Santa Fe |
| New Mexico National Bank | Albuquerque | July 17, 1986 | $159.3 million | $149.2 million | $34.3 million | First Intrst BK Albuquer |
| Eddy County National Bank | Carlsbad | April 3, 1986 | $30.4 million | $26.5 million | $10.9 million | United NM Bank at Carlsb |
| The First National Bank in Lincoln County | Ruidoso | December 13, 1985 | $32 million | $30.7 million | $16.7 million | First NB of Ruidoso |
| Security FS&LA (assistance) | Alberquerque | October 1, 1985 | $169.1 million | $167.7 million | $19.5 million | Security FS&LA |
| Moncor Bank, N.A. | Roswell | September 12, 1985 | $33.3 million | $32.9 million | $10.6 million | First NB of Chaves Count |
| Moncor Bank, N.A. | Hobbs | August 30, 1985 | $229.3 million | $220.3 million | $54 million | United Bank of Lea Count |
All bank failures in 1986 · 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.