The Graveyard › Banks › 1989
Benjamin Franklin SA
Houston, TX · failed March 9, 1989 · FDIC certificate 30761
Benjamin Franklin SA of Houston, TX failed on March 9, 1989. It opened on July 8, 1955, 33 years before. At its last report before that it held $2.6 billion in assets and $2.0 billion in deposits. The FDIC estimates that the Resolution Trust Corporation lost $882.2 million on it.
1984-031988-12
Assets at the end$2.6 billionlast report before March 9, 1989
Deposits at the end$2.0 billion
Estimated loss to the fund$882.2 millionRTC
Largest in the quarterly reports$2.7 billionSeptember 30, 1988
Equity to assets-4.1%December 31, 1988
Loans not being repaid3.7%noncurrent, December 31, 1988
Return on assets-5.10%a year's rate, December 31, 1988
Also ended in 1989
- Gibraltar Savings, FA · Simi Valley, CA · $13.4 billion in assets
- City Savings, FSB · Somerset, NJ · $9.8 billion in assets
- MBank Dallas, National Association · Dallas, TX · $6.6 billion in assets
- Western Savings & Loan · Phoenix, AZ · $5.7 billion in assets
- Lincoln Savings & Loan · Irvine, CA · $4.9 billion in assets
- University Federal Savings · Houston, TX · $4.5 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.