The Graveyard › Banks › 1987
Argo Fs&La
Summit · assisted November 17, 1987 · FDIC certificate 28921
Argo Fs&La of Summit was given assistance by the FSLIC on November 17, 1987. The FDIC's list records an assistance transaction, not a closing. It opened in 1908, 79 years before. At its last report before that it held $25.6 million in assets and $29.7 million in deposits. The FDIC estimates that the FSLIC's fund lost $3.6 million on it.
1984-031987-09
Assets at the end$25.6 millionlast report before November 17, 1987
Deposits at the end$29.7 million
Estimated loss to the fund$3.6 millionFSLIC
Largest in the quarterly reports$26.3 millionJune 30, 1987
Equity to assets-16.5%September 30, 1987
Loans not being repaid4.9%noncurrent, September 30, 1987
Return on assets-0.82%a year's rate, September 30, 1987
Also ended in 1987
- Lyons Federal Trust & Savings · Countryside · $2.3 billion in assets · assisted
- Freedom S&LA · Tampa, FL · $1.9 billion in assets
- Vernon S&LA · Vernon, TX · $1.3 billion in assets
- Syracuse Savings Bank · Syracuse · $1.2 billion in assets · assisted
- Independent American SA · Irving, TX · $1.0 billion in assets
- First Financial Bank, FSB · New Orleans · $744.9 million in assets · assisted
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.