The Graveyard › Banks › 1994
Bank of Newport
Newport Beach, CA · failed August 12, 1994 · FDIC certificate 20637
Bank of Newport of Newport Beach, CA failed on August 12, 1994. It opened on March 24, 1972, 22 years before. At its last report before that it held $167.8 million in assets and $161.8 million in deposits. At its largest in the FDIC's quarterly reports, on March 31, 1992, it held $299.1 million. The FDIC estimates that the Bank Insurance Fund lost $28.7 million on it.
1984-031994-06
Assets at the end$167.8 millionlast report before August 12, 1994
Deposits at the end$161.8 million
Estimated loss to the fund$28.7 millionBIF
Largest in the quarterly reports$299.1 millionMarch 31, 1992
Equity to assets0.8%June 30, 1994
Loans not being repaid4.6%noncurrent, June 30, 1994
Return on assets-9.81%a year's rate, June 30, 1994
Staff112full time, June 30, 1994
Also ended in 1994
- The Bank of Hartford · Hartford, CT · $321.5 million in assets
- Ludlow Savings Bank · Ludlow, MA · $222.7 million in assets
- Mechanics National Bank · Paramount, CA · $148.7 million in assets
- CommerceBank · Newport Beach, CA · $142.3 million in assets
- Pioneer Bank · Fullerton, CA · $133.3 million in assets
- Bank of San Pedro · Los Angeles, CA · $132.6 million 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.