The Graveyard › Banks › 1987
Commonwealth Bank
Torrance, CA · failed September 25, 1987 · FDIC certificate 22026
Commonwealth Bank of Torrance, CA failed on September 25, 1987. It opened on June 2, 1975, 12 years before. At its last report before that it held $85.1 million in assets and $83.8 million in deposits. The FDIC estimates that the FDIC's insurance fund lost $16.7 million on it.
1984-031987-06
Assets at the end$85.1 millionlast report before September 25, 1987
Deposits at the end$83.8 million
Estimated loss to the fund$16.7 millionFDIC
Equity to assets-1.3%June 30, 1987
Loans not being repaid12.1%noncurrent, June 30, 1987
Return on assets-1.96%a year's rate, June 30, 1987
Staff77full time, June 30, 1987
Also ended in 1987
- Lyons Federal Trust & Savings · Countryside · $2.3 billion in assets · assisted
- Freedom S&LA · Tampa, FL · $1.9 billion in assets
- Vernon S&LA · Vernon, TX · $1.3 billion in assets
- Syracuse Savings Bank · Syracuse · $1.2 billion in assets · assisted
- Independent American SA · Irving, TX · $1.0 billion in assets
- First Financial Bank, FSB · New Orleans · $744.9 million 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.