Data / Bank failures / 1990 / Farmers State Bank of Madisonvillle
Farmers State Bank of Madisonvillle, Madisonville, TX: failed November 29, 1990
Farmers State Bank of Madisonvillle in Madisonville, Texas, failed on November 29, 1990. First Bank of Katy, TX, took over its deposits. It held $34.8 million in assets and $34.6 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $1.6 million (4.6% of its assets). By assets it was the 259th largest of 382 banks closed or assisted in 1990.
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The FDIC's record
- Closed
- November 29, 1990
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- First Bank, Katy, TX
- Total assets
- $34,847,000
- Total deposits
- $34,565,000
- Estimated cost to the FDIC
- $1,616,866 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- BIF
- FDIC certificate
- 1204
Other bank failures in Texas, 1988 to 1992
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Citizens State Bank (assistance) | Princeton | December 10, 1992 | $12.9 million | $12.8 million | $246,897 | Citizens State Bank |
| First City, Texas - San Antonio | San Antonio | October 30, 1992 | $265.7 million | $259 million | The Frost National Bank | |
| First City, Texas - Corpus Chris | Corpus Christi | October 30, 1992 | $462.8 million | $383.4 million | Mercantile Bank, NA | |
| First City, Texas - Aransas Pass | Aransas Pass | October 30, 1992 | $51.7 million | $47.2 million | Corpus Christi National Ban | |
| First City, Texas - Alice, NA | Alice | October 30, 1992 | $128 million | $118 million | Alice Bank of Texas | |
| First City, Texas - Kountze, NA | Kountze | October 30, 1992 | $51.3 million | $47 million | Citizens Bank | |
| First City, Texas - El Paso, NA | El Paso | October 30, 1992 | $395.9 million | $367.3 million | Sunwest Bank of El Paso | |
| First City, Texas - Lake Jackson | Lake Jackson | October 30, 1992 | $104.3 million | $96.4 million | First Heights Bank, FSB |
Other failed banks First Bank took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| The Bank of Asheville | Asheville | NC | January 21, 2011 | $204.9 million | $199.4 million | $43.9 million | First Bank |
| Cooperative Bank | Wilmington | NC | June 19, 2009 | $966.8 million | $768.5 million | $287.3 million | First Bank |
| Buchel Bank & Trust Co. | Cuero | TX | August 22, 1991 | $25 million | $24.8 million | $1.3 million | First Bank |
| Citizens National Bank | El Campo | TX | August 30, 1990 | $51.3 million | $53.2 million | $10.2 million | First Bank |
| Farmers State Bank of Brookshire | Brookshire | TX | May 24, 1990 | $19.4 million | $19.6 million | $3.3 million | First Bank |
| Farmers State Bank | Schulenberg | TX | March 8, 1990 | $32.7 million | $33.4 million | $6.7 million | First Bank |
| First State Bank of McKinney | McKinney | TX | August 17, 1989 | $18.1 million | $20.2 million | $3.7 million | First Bank |
| Katy National Bank | Katy | TX | May 4, 1989 | $52 million | $55.3 million | $17.8 million | First Bank |
All bank failures in 1990 · All bank failures in Texas · Every failed bank First Bank took over · 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.