Data / Bank failures / 1989 / Summit Bank
Summit Bank, San Antonio, TX: failed August 24, 1989
Summit Bank in San Antonio, Texas, failed on August 24, 1989. The Frost National Bank of of San Antonio, TX, took over its deposits. It held $19.2 million in assets and $18.5 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $3.9 million (20.1% of its assets). By assets it was the 447th largest of 534 banks closed or assisted in 1989.
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The FDIC's record
- Closed
- August 24, 1989
- Type
- Failure
- How it was resolved
- Insured deposit transfer: the insured deposits moved to another bank
- Acquirer
- The Frost National Bank of, San Antonio, TX
- Total assets
- $19,197,000
- Total deposits
- $18,484,000
- Estimated cost to the FDIC
- $3,858,586 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- BIF
- FDIC certificate
- 21256
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 The Frost National Bank of took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| University National Bank | San Antonio | TX | August 3, 1989 | $19.8 million | $22.5 million | $5.9 million | The Frost National Bank of |
| Westpoint National Bank | San Antonio | TX | February 16, 1989 | $8.3 million | $11 million | $5.8 million | The Frost National Bank of |
All bank failures in 1989 · All bank failures in Texas · Every failed bank The Frost National Bank of 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.