Data / Bank failures / 1989 / San Antonio Savings
San Antonio Savings, San Antonio, TX: failed March 2, 1989
San Antonio Savings in San Antonio, Texas, failed on March 2, 1989. First Gibraltar Bank, FSB of Dallas, TX, took over its deposits. It held $2.64 billion in assets and $1.95 billion in deposits at its last report. The FDIC estimates the cost to its insurance fund at $821.4 million (31.1% of its assets). By assets it was the 12th largest of 534 banks closed or assisted in 1989.
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The FDIC's record
- Closed
- March 2, 1989
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- First Gibraltar Bank, FSB, Dallas, TX
- Total assets
- $2,637,921,000
- Total deposits
- $1,946,200,000
- Estimated cost to the FDIC
- $821,418,522 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- RTC
- FDIC certificate
- 28410
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 First Gibraltar Bank, FSB took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Sooner Federal Savings Assoc. | Tulsa | OK | November 16, 1989 | $1.53 billion | $1.15 billion | $152.8 million | First Gibraltar Bank, FSB |
| Plano S & L Assoc. | Plano | TX | September 21, 1989 | $274.4 million | $256.1 million | $137.6 million | First Gibraltar Bank, FSB |
All bank failures in 1989 · All bank failures in Texas · Every failed bank First Gibraltar Bank, FSB 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.