Data / Bank failures / 1989 / First State Bank
First State Bank, Deanville, TX: failed April 20, 1989
First State Bank in Deanville, Texas, failed on April 20, 1989. Citizens State Bank of Somerville, TX, took over its deposits. It held $9.4 million in assets and $9.3 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $1.3 million (13.4% of its assets). By assets it was the 507th largest of 534 banks closed or assisted in 1989.
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The FDIC's record
- Closed
- April 20, 1989
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Citizens State Bank, Somerville, TX
- Total assets
- $9,419,000
- Total deposits
- $9,349,000
- Estimated cost to the FDIC
- $1,266,847 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- FDIC
- FDIC certificate
- 17020
Other bank failures in Texas, 1987 to 1991
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Alvarado National Bank | Alvarado | November 14, 1991 | $9.2 million | $9.5 million | $2.8 million | The First National Bank in |
| Union Bank | San Antonio | October 31, 1991 | $84.9 million | $85.2 million | $8.9 million | Channelview Bank |
| First National Bank, Bedford | Bedford | October 24, 1991 | $23.2 million | $23.3 million | $2.4 million | First International Bank |
| First Federal Savings | Lubbock | October 11, 1991 | $223.7 million | $222.5 million | $5.2 million | First NB of Lubbock |
| Reagan State Bank | Big Lake | October 3, 1991 | $20.3 million | $20.9 million | $4.6 million | Security State Bank |
| First Federal Savings | Beaumont | September 27, 1991 | $251.2 million | $251.7 million | $24.9 million | Kilgore FS&LA |
| Davy Crockett FS & La | Crockett | September 13, 1991 | $50.5 million | $48.3 million | $2.3 million | |
| The San Saba National Bank | San Saba | August 29, 1991 | $15.6 million | $15.5 million | $1.1 million | First Llano Bank |
Other failed banks Citizens State Bank took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Citizens State Bank (assistance) | Princeton | TX | December 10, 1992 | $12.9 million | $12.8 million | $246,897 | Citizens State Bank |
| Burleson County Savings Assoc. | Caldwell | TX | May 31, 1991 | $31.5 million | $32 million | $7.4 million | Citizens State Bank |
| Peoples National Bank | Caldwell | TX | June 21, 1990 | $9.6 million | $10.8 million | $3.2 million | Citizens State Bank |
| First-Taylor National Bank | Taylor | TX | May 17, 1990 | $74 million | $79.8 million | $10.9 million | Citizens State Bank |
| Citizens State Bank (assistance) | Hayfield | MN | January 27, 1988 | $28 million | $28.7 million | $783,034 | Citizens State Bank |
| Commercial State Bank | Pocahontas | IA | June 27, 1986 | $47.9 million | $42.9 million | $9.9 million | Citizens State Bank |
| The First National Bank of Gorman | Gorman | TX | February 27, 1986 | $14.5 million | $13.6 million | $5.7 million | Citizens State Bank |
All bank failures in 1989 · All bank failures in Texas · Every failed bank Citizens State 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.