Data / Bank failures / 1990 / Great West Federal Savings Bank
Great West Federal Savings Bank, Craig, CO: failed May 11, 1990
Great West Federal Savings Bank in Craig, Colorado, failed on May 11, 1990. First NB of Meeker of Meeker, CO, took over its deposits. It held $28.1 million in assets and $31 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $4.9 million (17.5% of its assets). By assets it was the 281st largest of 382 banks closed or assisted in 1990.
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The FDIC's record
- Closed
- May 11, 1990
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- First NB of Meeker, Meeker, CO
- Total assets
- $28,089,000
- Total deposits
- $31,038,000
- Estimated cost to the FDIC
- $4,904,333 (estimate as of July 31, 2026)
- Charter
- Savings bank
- Insurance fund
- RTC
- FDIC certificate
- 32576
Other bank failures in Colorado, 1988 to 1992
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| The Citizens Bank of Pagosa Springs | Pagosa Springs | October 25, 1991 | $17.3 million | $16.6 million | $2.1 million | Citizens Bank of Pagosa SPR |
| The Gunnison Bank & Trust Co. (assistance) | Gunnison | October 2, 1991 | $20.1 million | $19.3 million | $1.5 million | The Gunnison Bank & Trust C |
| Columbine Valley Bank and Trust | Jefferson County | April 26, 1991 | $9.5 million | $9.2 million | $2 million | Vectra Bank |
| Citizens National Bank | Limon | March 29, 1991 | $11.4 million | $11.3 million | $3 million | First National Bank of Limo |
| Douglas County National Bank | Parker | December 6, 1990 | $5.4 million | $5.3 million | $762,878 | City Center National Bank |
| Cherry Creek National Bank | Denver | August 16, 1990 | $85.8 million | $94.6 million | $11.2 million | The Bank of Cherry Creek, N |
| National City Bank of Denver | Denver | June 14, 1990 | $58.4 million | $65.1 million | $13.5 million | Omnibank Southeast |
| Rocky Mountain National Bank | Denver | May 31, 1990 | $9.2 million | $8.9 million | $1.7 million | Colonial National Bank |
Other failed banks First NB of Meeker took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Peoples State Bank of Meeker | Meeker | CO | September 23, 1988 | $3.9 million | $3.8 million | $806,918 | First NB of Meeker |
All bank failures in 1990 · All bank failures in Colorado · Every failed bank First NB of Meeker 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.