The Graveyard › Banks › 1989

Commonwealth Federal S & L

Fort Lauderdale, FL · failed July 20, 1989 · FDIC certificate 32076

Commonwealth Federal S & L of Fort Lauderdale, FL failed on July 20, 1989. It opened on February 18, 1981, 8 years before. At its last report before that it held $1.6 billion in assets and $1.2 billion in deposits. At its largest in the FDIC's quarterly reports, on September 30, 1988, it held $1.8 billion. The FDIC estimates that the Resolution Trust Corporation lost $315.2 million on it.

1984-031989-06

Assets at the end$1.6 billionlast report before July 20, 1989

Deposits at the end$1.2 billion

Estimated loss to the fund$315.2 millionRTC

Largest in the quarterly reports$1.8 billionSeptember 30, 1988

Equity to assets-4.8%June 30, 1989

Loans not being repaid11.6%noncurrent, June 30, 1989

Return on assets-5.17%a year's rate, June 30, 1989

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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.