The Graveyard › Banks › 1989
Concordia Federal Bank for Savings
Lansing · failed February 17, 1989 · FDIC certificate 29383
Concordia Federal Bank for Savings of Lansing failed on February 17, 1989. It opened in 1889, 100 years before. At its last report before that it held $468.8 million in assets and $423.9 million in deposits. At its largest in the FDIC's quarterly reports, on March 31, 1988, it held $575.1 million. The FDIC estimates that the Resolution Trust Corporation lost $63.2 million on it.
1984-031988-12
Assets at the end$468.8 millionlast report before February 17, 1989
Deposits at the end$423.9 million
Estimated loss to the fund$63.2 millionRTC
Largest in the quarterly reports$575.1 millionMarch 31, 1988
Equity to assets-9.1%December 31, 1988
Loans not being repaid8.0%noncurrent, December 31, 1988
Return on assets-6.35%a year's rate, December 31, 1988
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.