Closed Friday, August 21, 2009 · Austin, Travis County, Texas
Guaranty Bank
By total assets Guaranty Bank is the eighth-largest of the 3,375 bank failures since 1934 for which the FDIC records a size, counted in dollars of the day. The FDIC records no estimated loss to the Deposit Insurance Fund from this failure. Of the 738 failed banks on record in Texas since 1934, it ranks second by size.
On the books, 2001 to 2009
Total assets peaked at $17.7 billion in the first quarter of 2003 and were 24% lower at the final report. Equity capital went from 7.3% of assets in the third quarter of 2001 to below zero at the last report. The deepest annual loss, $2.0 billion, was booked in 2009 in only part of the year.* 2009: January to June only, the last report before closing.
Size against the other 2009 failures
Total assets of each 2009 failure, log scale; Guaranty Bank in red.
By assets it ranked second of the 140 failures in 2009. Across the failures of 2009, the median estimated loss came to 27% of assets. In the size ranking of that year, just above it was Colonial Bank of Montgomery, Alabama ($25.5 billion, loss 9.3% of assets); just below, BankUnited, FSB of Coral Gables, Florida ($13.1 billion, loss 40% of assets). Every 2009 failure in the explorer.
Three other banks closed that day; the largest was CapitalSouth Bank of Birmingham, Alabama, at $587 million.
Failures in Texas
It was one of five banks in Texas to fail in 2009. The previous failure there was Millennium State Bank of Texas of Dallas, on July 2, 2009. The next was North Houston Bank of Houston, on October 30, 2009. Travis County has 35 failed banks on FDIC record since 1934. Closest in time: Southwest National Bank (1990), Windsor Savings Association (1990), Security National Bank (1990), Fidelity Savings-Austin, FA (1991), First City, Texas - Austin, National Association (1992).