Data / Bank failures / 1990 / First National Bank of Jackson
First National Bank of Jackson, Jackson, TN: failed October 25, 1990
First National Bank of Jackson in Jackson, Tennessee, failed on October 25, 1990. First Tennessee Bank, Natio of Memphis, TN, took over its deposits. It held $73.7 million in assets and $69.9 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $5.2 million (7% of its assets). By assets it was the 179th largest of 382 banks closed or assisted in 1990.
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The FDIC's record
- Closed
- October 25, 1990
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- First Tennessee Bank, Natio, Memphis, TN
- Total assets
- $73,684,000
- Total deposits
- $69,932,000
- Estimated cost to the FDIC
- $5,155,095 (estimate as of July 31, 2026)
- Charter
- National bank (supervised by the OCC)
- Insurance fund
- BIF
- FDIC certificate
- 4976
Other bank failures in Tennessee, 1988 to 1992
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Cherokee Valley Fsa | Cleveland | June 12, 1992 | $142.5 million | $124.4 million | $347 | |
| Metropolitan FS & La | Nashville | April 19, 1991 | $985.1 million | $811.8 million | $112.2 million | Union Planters NB |
| First Fsa of Waynesboro | Waynesboro | February 8, 1991 | $18.2 million | $18.1 million | $2.1 million | Wayne County Bank |
| George Washington Fsa | Jonesborough | February 1, 1991 | $14.6 million | $13.3 million | $1.3 million | Home FS&LA of Upper E. TN |
| Tennessee Federal Savings Bank | Cookeville | August 3, 1990 | $40 million | $36 million | $10.9 million | Peoples B&T of Cumberlands |
| Investors Savings Bank | Nashville | March 9, 1990 | $81.1 million | $65.8 million | $16.1 million | Amsouth Bank of TN |
| Home Federal S & L Assoc. | Memphis | July 20, 1989 | $204.3 million | $164.3 million | $20 million | First Commercial BK at Memp |
| Germantown Trust Savings | Germantown | March 9, 1989 | $135.9 million | $105.9 million | $38.2 million | NB of Commerce |
All bank failures in 1990 · All bank failures in Tennessee · The full failed bank list
Read from the FDIC's failures data (BankFind), last updated 2026-10-24. 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.