Data / Bank failures / 1989 / First City National Bank and Trust
First City National Bank and Trust, New York, NY: failed December 20, 1989
First City National Bank and Trust in New York, New York, failed on December 20, 1989. It held $39.5 million in assets and $38.2 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $10.8 million (27.4% of its assets). By assets it was the 350th largest of 534 banks closed or assisted in 1989.
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The FDIC's record
- Closed
- December 20, 1989
- Type
- Failure
- How it was resolved
- Payout: the FDIC paid insured depositors directly
- Total assets
- $39,512,000
- Total deposits
- $38,155,000
- Estimated cost to the FDIC
- $10,823,586 (estimate as of July 31, 2026)
- Charter
- National bank (supervised by the OCC)
- Insurance fund
- BIF
- FDIC certificate
- 26814
Other bank failures in New York, 1987 to 1991
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Community National Bank and Trust | New York | November 7, 1991 | $333.8 million | $354.2 million | $95.9 million | Chemical Bank |
| Eastern FS & La of Sayville | Sayville | September 27, 1991 | $249.5 million | $264.9 million | $29.1 million | Bayside FSB |
| Larchmont FS & La | Larchmont | August 9, 1991 | $123.8 million | $123.6 million | $5,681 | Peoples Westchester SB |
| Westerleigh Savings | Staten Island | May 31, 1991 | $147.8 million | $145.2 million | $9.9 million | |
| Goldome | Buffalo | May 31, 1991 | $9.89 billion | $6.53 billion | $779.4 million | Key Bank of Western New Yor |
| State Savings | Jackson Heights | March 22, 1991 | $445.4 million | $393.8 million | $166.3 million | |
| Beacon Federal Savings | Baldwin | March 8, 1991 | $406 million | $388.6 million | $19.9 million | North Side SB |
| Central Federal Savings | Mineola | December 7, 1990 | $890.8 million | $848.4 million | $247.6 million | Chemical Bank |
All bank failures in 1989 · All bank failures in New York · 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.