Data / Bank failures / 1989 / First Federal of Arkansas
First Federal of Arkansas, Little Rock, AR: failed February 10, 1989
First Federal of Arkansas in Little Rock, Arkansas, failed on February 10, 1989. It held $1.58 billion in assets and $1.20 billion in deposits at its last report. The FDIC estimates the cost to its insurance fund at $792.6 million (50.1% of its assets). By assets it was the 21st largest of 534 banks closed or assisted in 1989.
SpecStream is the live web data engine for teams and agents. It reads the FDIC failed bank data every morning, and this page is that reading. Ask for the banks you follow and each new closure arrives in your sheet, CRM, Slack or agent as the FDIC announces it.
The FDIC's record
- Closed
- February 10, 1989
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- None, NA
- Total assets
- $1,583,318,000
- Total deposits
- $1,201,845,000
- Estimated cost to the FDIC
- $792,616,013 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- RTC
- FDIC certificate
- 28782
Other bank failures in Arkansas, 1987 to 1991
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Northwest National Bank | Fayetteville | August 16, 1991 | $29.4 million | $30.2 million | $936,463 | Citizens Bank of Northwest |
| United FS & La | Jonesboro | June 28, 1991 | $142.5 million | $136.7 million | $16.3 million | |
| Arkansas FSB | Little Rock | December 21, 1990 | $71.7 million | $61.6 million | $15.4 million | |
| Texarkana FS & La | Texarcana | December 7, 1990 | $40.4 million | $43.2 million | $11.2 million | Citizens NB |
| First Sa | Paragould | November 30, 1990 | $64.1 million | $46.7 million | $24.6 million | Peoples Bank |
| First American Federal Savings | Fort Smith | May 25, 1990 | $450.7 million | $444.2 million | $45.2 million | |
| Citizens National Bank of Walnut Ridge | Walnut Ridge | February 2, 1990 | $37.5 million | $34.1 million | $6.3 million | The Lawrence County Bank |
| Grand Prairie FS & La | Stuttgart | January 26, 1990 | $31.5 million | $24.8 million | $14.2 million |
All bank failures in 1989 · All bank failures in Arkansas · 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.