Island Bank
South Padre Island, TX
$17.5M
total assets, December 31, 1988
$17.5M
total assets, December 31, 1988
Island Bank was a state nonmember bank in South Padre Island, TX. It failed on Mar 16, 1989, and Firstbank took over its deposits. At its last report it held $17.5 million in assets.
Updated Oct 11, 2026 · numbers as of December 31, 1988
This bank failed
- Failed on
- Mar 16, 1989
- Assets
- $17.5M
- Deposits
- $17.2M
- Estimated cost
- $6.2M
- Deposits went to
- Firstbank, Los Fresnos, TX
Total assets
$17.5M
+3.6% in a year · -2.3% in a quarter
Deposits
$17.2M
+11.4% in a year · -0.9% in a quarter
Loans
$11.3M
-3.8% in a year · -5.2% in a quarter
Profit so far
-$567K
Jan 1 to Dec 31, 1988 · -8200.0% in a year
Capital ratio
1.12%
-3.08 pts in a year
Return on assets
-3.11%
-3.15 pts in a year
Facts
- Type
- State nonmember bank
- Head office
- 500 Padre Boulevard, South Padre Island, TX, 78578
- County
- Cameron
- Established
- Dec 9, 1974
- Failed
- Mar 16, 1989
- Employees
- 14
- Id
- b21850
Quarter by quarter
March 31, 1984 to December 31, 1988
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 Island Bank?
$17.5 million in total assets and $17.2 million in deposits as of December 31, 1988, with assets up 3.6% from a year before. Its loans were $11.3 million.
Is Island Bank profitable?
No: it lost $567,000 from January 1 to December 31, 1988. Its return on assets was -3.11% a year; about 1% is typical.
When did Island Bank fail?
Mar 16, 1989. Firstbank of Los Fresnos, TX took over its deposits. The estimated cost of the failure was $6.22 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.