The Graveyard › Banks › 1989
Cornerstone Federal Savings
Houston, TX · failed July 13, 1989 · FDIC certificate 32398
Cornerstone Federal Savings of Houston, TX failed on July 13, 1989. It opened on November 8, 1985, 3 years before. At its last report before that it held $112.4 million in assets and $110.4 million in deposits. The FDIC estimates that the Resolution Trust Corporation lost $26.7 million on it.
1985-121989-06
Assets at the end$112.4 millionlast report before July 13, 1989
Deposits at the end$110.4 million
Estimated loss to the fund$26.7 millionRTC
Largest in the quarterly reports$112.4 millionJune 30, 1989
Equity to assets-10.7%June 30, 1989
Loans not being repaid14.6%noncurrent, June 30, 1989
Return on assets-24.77%a year's rate, June 30, 1989
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.