Data / Bank failures / 1989 / Universal Sa
Universal Sa, Houston, TX: failed March 9, 1989
Universal Sa in Houston, Texas, failed on March 9, 1989. Channelview Bank of Channelview, TX, took over its deposits. It held $142.1 million in assets and $260.4 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $290 million (204% of its assets). By assets it was the 176th largest of 534 banks closed or assisted in 1989.
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The FDIC's record
- Closed
- March 9, 1989
- Type
- Failure
- How it was resolved
- Insured deposit transfer: the insured deposits moved to another bank
- Acquirer
- Channelview Bank, Channelview, TX
- Total assets
- $142,144,000
- Total deposits
- $260,435,000
- Estimated cost to the FDIC
- $289,958,480 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- RTC
- FDIC certificate
- 31582
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 Channelview Bank took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Union Bank | San Antonio | TX | October 31, 1991 | $84.9 million | $85.2 million | $8.9 million | Channelview Bank |
| Washington County State Bank | Brenham | TX | December 13, 1990 | $77.7 million | $77.5 million | $9.4 million | Channelview Bank |
| Community Bank | New Caney | TX | March 22, 1990 | $42 million | $42.1 million | $7.5 million | Channelview Bank |
| Huffman Bank | Huffman | TX | February 15, 1990 | $22 million | $21.7 million | $2.8 million | Channelview Bank |
| Commercial State Bank | Houston | TX | January 12, 1989 | $49.2 million | $48.6 million | $4.8 million | Channelview Bank |
| Port City Bank | Houston | TX | January 28, 1988 | $60.7 million | $62.3 million | $13.2 million | Channelview Bank |
All bank failures in 1989 · All bank failures in Texas · Every failed bank Channelview 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.