Data / Bank failures / 1989 / Jefferson S & L Assoc.
Jefferson S & L Assoc., Beaumont, TX: failed March 16, 1989
Jefferson S & L Assoc. in Beaumont, Texas, failed on March 16, 1989. Kilgore FS&LA of Kilgore, TX, took over its deposits. It held $119.1 million in assets and $125.7 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $85.1 million (71.4% of its assets). By assets it was the 201st largest of 534 banks closed or assisted in 1989.
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The FDIC's record
- Closed
- March 16, 1989
- Type
- Failure
- How it was resolved
- Insured deposit transfer: the insured deposits moved to another bank
- Acquirer
- Kilgore FS&LA, Kilgore, TX
- Total assets
- $119,085,000
- Total deposits
- $125,667,000
- Estimated cost to the FDIC
- $85,085,581 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- RTC
- FDIC certificate
- 31402
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 Kilgore FS&LA took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| First Federal Savings | Beaumont | TX | September 27, 1991 | $251.2 million | $251.7 million | $24.9 million | Kilgore FS&LA |
| Atlanta Fsa | Atlanta | TX | August 31, 1990 | $89.4 million | $89.6 million | $8.4 million | Kilgore FS&LA |
| First FS & La | Temple | TX | August 24, 1990 | $315.4 million | $327.4 million | $39.5 million | Kilgore FS&LA |
| Marshall FS & La | Marshall | TX | January 18, 1990 | $62 million | $57.8 million | $14.4 million | Kilgore FS&LA |
| First Garland Fed. S & L | Garland | TX | September 21, 1989 | $132.4 million | $106.4 million | $31.9 million | Kilgore FS&LA |
| First Fed. S & La of Brenham | Brenham | TX | September 21, 1989 | $148.4 million | $138.9 million | $50 million | Kilgore FS&LA |
| Denton Federal Savings | Denton | TX | August 24, 1989 | $142.7 million | $148 million | $32 million | Kilgore FS&LA |
| Taylorbanc Federal S & L | Taylor | TX | August 17, 1989 | $139.5 million | $137.4 million | $47.6 million | Kilgore FS&LA |
All bank failures in 1989 · All bank failures in Texas · Every failed bank Kilgore FS&LA 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.