Failed Bank List

Closed Friday, April 26, 1991 · Irving, Dallas County, Texas

Sunbelt Savings, FSB

By total assets Sunbelt Savings, FSB is the 32nd-largest of the 3,375 bank failures since 1934 for which the FDIC records a size, counted in dollars of the day. Equity capital was below zero at its last report. In 1991 regulators closed 41 banks in Texas; this was the 15th.

On the books, 1988 to 1991

Total assets and equity capital each quarter before closing, and the estimated lossTotal assetsEquity capitalEstimated loss$0$3B$6B$9B$12B19891990Closed
Total assets peaked at $10.0 billion in the second quarter of 1990 and were 40% lower at the final report. Equity capital had covered under 0.1% of assets in the third quarter of 1988. It reported a net loss in three of its final four reporting years. The deepest annual loss, $45.4 million, was booked in 1990.
Net income in each reporting year before closing, with equity capital as a share of assets at year endNet income per yearEquity to assets at year end$60M−$60M1988: $3.8 million1988under 0.1%1989: −$7.7 million1989neg.1990: −$45.4 million1990neg.1991: −$18.3 million1991*neg.
* 1991: January to March only, the last report before closing.

Size against the other 1991 failures

Total assets of the 268 banks that failed in 1991, log scale$1M$10M$100M$1B$10B$100B
Total assets of each 1991 failure, log scale; Sunbelt Savings in red.

By assets it ranked sixth of the 268 failures in 1991. Within Texas it ranks fourth by size of the 738 failures recorded since 1934. In the size ranking of that year, just above it was The Connecticut Bank and Trust Company, National Association of Hartford, Connecticut ($7.2 billion, loss 2.1% of assets); just below, Columbia Savings and Loan Association of Beverly Hills, California ($5.4 billion, loss 3.8% of assets). Every 1991 failure in the explorer.

Regulators closed seven banks that day. The largest of the others was John Hanson Savings Bank, FSB of Beltsville, Maryland, at $841 million.

Failures in Texas

The previous failure there was Community National Bank of Sherman, on April 18, 1991. The next was Texas Bank and Trust of Temple of Temple, on May 9, 1991. Dallas County has 76 failed banks on FDIC record since 1934. Closest in time: First National Bank of Rowlett (1990), Peoples State Bank (1990), Metropolitan National Bank (1991), Capital Bank (1991), First National Bank of Cedar Hill (1991).

Bank failures in Texas per year, 1980 to 20260601201802401982: 61983: 31984: 71985: 131986: 281987: 541988: 1201989: 2231990: 1401991: 411992: 291993: 101996: 21999: 12002: 12008: 22009: 52010: 12011: 12013: 22019: 12025: 119801990200020102020
Per year since 1980, 1991 in red. Every Texas failure

FDIC certificate 32598 · loss estimate as of July 31, 2026 · How to read this page