The Graveyard › Banks › 1988

Cardinal FSB

Cleveland · assisted December 1, 1988 · FDIC certificate 28596

Cardinal FSB of Cleveland was given assistance by the FSLIC on December 1, 1988. The FDIC's list records an assistance transaction, not a closing. It opened in 1886, 102 years before. At its last report before that it held $1.5 billion in assets and $1.5 billion in deposits. At its largest in the FDIC's quarterly reports, on September 30, 1987, it held $1.7 billion. The FDIC estimates that the FSLIC's fund lost $452.7 million on it.

1984-031988-09

Assets at the end$1.5 billionlast report before December 1, 1988

Deposits at the end$1.5 billion

Estimated loss to the fund$452.7 millionFSLIC

Largest in the quarterly reports$1.7 billionSeptember 30, 1987

Equity to assets-9.3%September 30, 1988

Loans not being repaid13.8%noncurrent, September 30, 1988

Return on assets-2.87%a year's rate, September 30, 1988

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Also ended in 1988

American S&LA · Stockton · $30.2 billion in assets · assisted
First Republicbank-Dallas, N.A. · Dallas, TX · $17.1 billion in assets
Gibraltar SA · Houston · $6.5 billion in assets · assisted
United Savings Association of Texas · Houston · $4.6 billion in assets · assisted
First City, Texas - Houston, NA · Houston · $4.4 billion in assets · assisted
First Texas Savings Association · Dallas · $3.1 billion 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.