The Graveyard › Banks › 1996

Commonwealth Thrift and Loan

Torrance, CA · failed August 16, 1996 · FDIC certificate 27072

Commonwealth Thrift and Loan of Torrance, CA failed on August 16, 1996. It opened on March 1, 1981, 15 years before. At its last report before that it held $11.5 million in assets and $10.9 million in deposits. At its largest in the FDIC's quarterly reports, on June 30, 1991, it held $21.8 million. The FDIC estimates that the Bank Insurance Fund lost $5.6 million on it.

1987-091996-06

Assets at the end$11.5 millionlast report before August 16, 1996

Deposits at the end$10.9 million

Estimated loss to the fund$5.6 millionBIF

Largest in the quarterly reports$21.8 millionJune 30, 1991

Equity to assets0.4%June 30, 1996

Loans not being repaid11.4%noncurrent, June 30, 1996

Return on assets-17.22%a year's rate, June 30, 1996

Staff22full time, June 30, 1996

On the FDIC's list: COMMONWEALTH THRIFT & LOAN.

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Also ended in 1996

First NB of the Panhandle · Panhandle, TX · $68.1 million in assets
Fairfield First Bank & Trust Co · Southport, CT · $57.3 million in assets
Metrobank of Philadelphia · Philadelphia, PA · $40.4 million in assets
Union Federal Bank, FSB · Los Angeles, CA · $32.6 million in assets
Peoples Bank and Trust · Borger, TX · $22.7 million 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.