Data / Bank failures / 1989 / Rusk Fed. S & L Assoc.
Rusk Fed. S & L Assoc., Rusk, TX: failed March 16, 1989
Rusk Fed. S & L Assoc. in Rusk, Texas, failed on March 16, 1989. Citizens Bank of Rusk, TX, took over its deposits. It held $44.6 million in assets and $47.2 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $24.6 million (55.2% of its assets). By assets it was the 338th largest of 534 banks closed or assisted in 1989.
SpecStream is the live web data engine for teams and agents. It reads the FDIC failed bank data every morning, and this page is that reading. Ask for the banks you follow and each new closure arrives in your sheet, CRM, Slack or agent as the FDIC announces it.
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
- Citizens Bank, Rusk, TX
- Total assets
- $44,556,000
- Total deposits
- $47,154,000
- Estimated cost to the FDIC
- $24,592,931 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- RTC
- FDIC certificate
- 29038
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 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 Southwest FS & La | Tyler | TX | November 30, 1990 | $51.2 million | $45.3 million | $4.9 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 |
All bank failures in 1989 · 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 2026-10-23. 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.