The Graveyard › Banks › 1990

Action Federal Savings

Sommers Point, NJ · failed November 15, 1990 · FDIC certificate 30223

Action Federal Savings of Sommers Point, NJ failed on November 15, 1990. It opened on June 1, 1943, 47 years before. At its last report before that it held $262.0 million in assets and $199.0 million in deposits. At its largest in the FDIC's quarterly reports, on March 31, 1990, it held $300.5 million. The FDIC estimates that the Resolution Trust Corporation lost $81.7 million on it.

1984-031990-09

Assets at the end$262.0 millionlast report before November 15, 1990

Deposits at the end$199.0 million

Estimated loss to the fund$81.7 millionRTC

Largest in the quarterly reports$300.5 millionMarch 31, 1990

Equity to assets0.3%September 30, 1990

Loans not being repaid18.1%noncurrent, September 30, 1990

Return on assets-8.72%a year's rate, September 30, 1990

Staff100full time, September 30, 1990

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Also ended in 1990

Imperial Federal Savings Association · San Diego, CA · $9.6 billion in assets
Franklin Fsa · Ottawa · $9.3 billion in assets
Centrust Bank, SB · Miami, FL · $8.2 billion in assets
Empire of America FSB · Buffalo, NY · $8.2 billion in assets
Merabank FSB · Phoenix, AZ · $6.3 billion in assets
Southwest Savings Association · Dallas, TX · $5.3 billion in assets

History, not advice.

Source: Federal Deposit Insurance Corporation, BankFind Suite API. Source values and institutional identifiers are retained; formatting and normalization by Underfolio. No FDIC endorsement is implied. How these numbers are made · Report a data issue.