The Graveyard › Banks › 1989

Commonwealth Savings Association

Houston, TX · failed March 9, 1989 · FDIC certificate 31896

Commonwealth Savings Association of Houston, TX failed on March 9, 1989. It opened in 1975, 14 years before. At its last report before that it held $1.6 billion in assets and $1.6 billion in deposits. At its largest in the FDIC's quarterly reports, on March 31, 1988, it held $1.8 billion. The FDIC estimates that the Resolution Trust Corporation lost $1.6 billion on it.

1984-031988-12

Assets at the end$1.6 billionlast report before March 9, 1989

Deposits at the end$1.6 billion

Estimated loss to the fund$1.6 billionRTC

Largest in the quarterly reports$1.8 billionMarch 31, 1988

Equity to assets-31.3%December 31, 1988

Loans not being repaid16.0%noncurrent, December 31, 1988

Return on assets-22.96%a year's rate, December 31, 1988

On the FDIC's list: COMMONWEALTH SAVINGS ASSOC..

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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.