Data / Bank failures / 1990 / First Southwest FS & La
First Southwest FS & La, Tyler, TX: failed November 30, 1990
First Southwest FS & La in Tyler, Texas, failed on November 30, 1990. Citizens Bank of Rusk, TX, took over its deposits. It held $51.2 million in assets and $45.3 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $4.9 million (9.6% of its assets). By assets it was the 220th largest of 382 banks closed or assisted in 1990.
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The FDIC's record
- Closed
- November 30, 1990
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Citizens Bank, Rusk, TX
- Total assets
- $51,219,000
- Total deposits
- $45,339,000
- Estimated cost to the FDIC
- $4,900,753 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- RTC
- FDIC certificate
- 31827
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 Citizens Bank took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Silver Falls Bank | Silverton | OR | February 20, 2009 | $134.2 million | $116 million | $39.1 million | Citizens Bank |
| Hartford-Carlisle SB | Carlisle | IA | January 14, 2000 | $105 million | $68.5 million | $11.6 million | Citizens Bank |
| First City, Texas - Kountze, NA | Kountze | TX | October 30, 1992 | $51.3 million | $47 million | Citizens Bank | |
| First City, Texas - Sour Lake | Sour Lake | TX | October 30, 1992 | $53.5 million | $48.8 million | Citizens Bank | |
| The First National Bank of Yorktown | Yorktown | TX | September 10, 1992 | $34.4 million | $34.5 million | $7.6 million | Citizens Bank |
| First Fsa of Nacogdoches | Nacogdoches | TX | November 30, 1990 | $61.9 million | $51.8 million | $22.3 million | Citizens Bank |
| The First National Bank of Levelland | Levelland | TX | August 30, 1990 | $62.2 million | $64.4 million | $9.4 million | Citizens Bank |
| Timberland Fsa | Nacogdoches | TX | March 16, 1989 | $60.3 million | $49 million | $14.3 million | Citizens Bank |
All bank failures in 1990 · All bank failures in Texas · Every failed bank Citizens Bank took over · 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.