The Graveyard › Banks › 1989
City Savings, FSB
Somerset, NJ · failed December 8, 1989 · FDIC certificate 28406
City Savings, FSB of Somerset, NJ failed on December 8, 1989. It opened in 1910, 79 years before. At its last report before that it held $9.8 billion in assets and $7.3 billion in deposits. At its largest in the FDIC's quarterly reports, on September 30, 1988, it held $10.8 billion. The FDIC estimates that the Resolution Trust Corporation lost $1.6 billion on it.
1984-031989-09
Assets at the end$9.8 billionlast report before December 8, 1989
Deposits at the end$7.3 billion
Estimated loss to the fund$1.6 billionRTC
Largest in the quarterly reports$10.8 billionSeptember 30, 1988
Equity to assets0.8%September 30, 1989
Loans not being repaid8.9%noncurrent, September 30, 1989
Return on assets-3.07%a year's rate, September 30, 1989
Also ended in 1989
- Gibraltar Savings, FA · Simi Valley, CA · $13.4 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
- Bright Banc · Dallas, TX · $4.4 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.