The Graveyard › Banks › 1988
Cardinal Savings Bank
Newport, NC · failed May 13, 1988 · FDIC certificate 32463
Cardinal Savings Bank of Newport, NC failed on May 13, 1988. It opened on June 8, 1984, 3 years before. At its last report before that it held $93.9 million in assets and $92.8 million in deposits. At its largest in the FDIC's quarterly reports, on December 31, 1986, it held $141.2 million. The FDIC estimates that the FSLIC's fund lost $27.5 million on it.
1986-061988-03
Assets at the end$93.9 millionlast report before May 13, 1988
Deposits at the end$92.8 million
Estimated loss to the fund$27.5 millionFSLIC
Largest in the quarterly reports$141.2 millionDecember 31, 1986
Equity to assets-27.4%March 31, 1988
Loans not being repaid6.4%noncurrent, March 31, 1988
Return on assets-0.68%a year's rate, March 31, 1988
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.