Data / Bank failures / 1989 / The First National Bank of Gordon

The First National Bank of Gordon, Gordon, TX: failed May 18, 1989

Name: The First National Bank of Gordon bank failure (FDIC record)
Creator: SpecStream
License: https://creativecommons.org/licenses/by/4.0/

The First National Bank of Gordon in Gordon, Texas, failed on May 18, 1989. The First National Bank of of Albany, TX, took over its deposits. It held $10.9 million in assets and $11.6 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $1.3 million (12% of its assets). By assets it was the 495th largest of 534 banks closed or assisted in 1989.

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The FDIC's record

Closed: May 18, 1989
Type: Failure
How it was resolved: Purchase and assumption: another bank took over the deposits
Acquirer: The First National Bank of, Albany, TX
Total assets: $10,864,000
Total deposits: $11,559,000
Estimated cost to the FDIC: $1,304,424 (estimate as of July 31, 2026)
Charter: National bank (supervised by the OCC)
Insurance fund: FDIC
FDIC certificate: 3223

The FDIC record

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 First National Bank of took over

Bank	City	State	Closed	Assets	Deposits	Estimated cost	Acquirer
The Washington Bank (of Maryland)	Baltimore	MD	May 10, 1991	$39 million	$39 million	$968,346	The First National Bank of
Boston Trade Bank	Boston	MA	May 3, 1991	$307 million	$301.5 million	$127.3 million	The First National Bank of
The State Bank of Omaha	Omaha	TX	December 14, 1990	$20.5 million	$20.6 million	$5.3 million	The First National Bank of
United Peoples Bank	Lampasas	TX	October 11, 1990	$32.7 million	$32.8 million	$6.5 million	The First National Bank of
Merchantsbank of Boston, A Co-Op	Boston	MA	May 18, 1990	$392.2 million	$391 million	$95.6 million	The First National Bank of
Alvord National Bank	Alvord	TX	March 29, 1990	$7.6 million	$7.7 million	$495,560	The First National Bank of
Liberty City State Bank	Liberty City	TX	March 15, 1990	$15.2 million	$15 million	$1.5 million	The First National Bank of
Farmers State Bank of Shiro, Texas	Shiro	TX	January 25, 1990	$4.6 million	$4.4 million	$2.1 million	The First National Bank of

All bank failures in 1989 · All bank failures in Texas · Every failed bank The First 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.