Citizens Bank
Galveston, TX · Owner: Island American Bancshares Inc
$31.3M
total assets, June 30, 1989
$31.3M
total assets, June 30, 1989
Citizens Bank was a state nonmember bank in Galveston, TX, owned by Island American Bancshares Inc. It failed on Oct 12, 1989, and Bank Of Galveston, National took over its deposits. At its last report it held $31.3 million in assets.
Updated Oct 11, 2026 · numbers as of June 30, 1989
This bank failed
- Failed on
- Oct 12, 1989
- Assets
- $31.3M
- Deposits
- $32.1M
- Estimated cost
- $5.4M
- Deposits went to
- Bank Of Galveston, National, Galveston, TX
Total assets
$31.3M
-10.3% in a year · -7.8% in a quarter
Deposits
$32.1M
-4.7% in a year · +0.2% in a quarter
Loans
$25.7M
-0.6% in a year · -6.0% in a quarter
Profit so far
-$1.5M
Jan 1 to Jun 30, 1989
Capital ratio
-4.23%
-6.36 pts in a year
Return on assets
-9.18%
-8.31 pts in a year
Facts
- Type
- State nonmember bank
- Head office
- 2401 Broadway, Galveston, TX, 77550
- County
- Galveston
- Holding company
- Island American Bancshares Inc
- Established
- Sep 23, 1963
- Failed
- Oct 12, 1989
- Employees
- 26
- Id
- b18876
Quarter by quarter
March 31, 1984 to June 30, 1989
Assets, deposits and loans
Each quarter end, US dollars
Profit by quarter
Net income of each quarter, the last 12
Ratios
Percent. Return on assets and net interest margin are yearly rates.
Related pages
Questions and answers
How big is Citizens Bank?
$31.3 million in total assets and $32.1 million in deposits as of June 30, 1989, with assets down 10.3% from a year before. Its loans were $25.7 million.
Is Citizens Bank profitable?
No: it lost $1.52 million from January 1 to June 30, 1989. Its return on assets was -9.18% a year; about 1% is typical.
Who owns Citizens Bank?
Citizens Bank is owned by Island American Bancshares Inc, its holding company.
When did Citizens Bank fail?
Oct 12, 1989. Bank Of Galveston, National of Galveston, TX took over its deposits. The estimated cost of the failure was $5.40 million.
Official public data from the reports every insured bank files each quarter. Profit so far runs from January 1 to the quarter end. Branch deposits are counted once a year, as of June 30. New quarters appear about two months after the quarter ends.