The Graveyard › Banks › 1988

Financial Security S&LA

Delray Beach, FL · failed October 6, 1988 · FDIC certificate 32155

Financial Security S&LA of Delray Beach, FL failed on October 6, 1988. It opened on February 25, 1983, 5 years before. At its last report before that it held $150.1 million in assets and $166.3 million in deposits. At its largest in the FDIC's quarterly reports, on December 31, 1985, it held $247.5 million. The FDIC's list gives no estimate of the loss: the FDIC says its figures are not complete for its own cases before 1986 or for FSLIC cases from 1934 to 1988.

1984-031988-09

Assets at the end$150.1 millionlast report before October 6, 1988

Deposits at the end$166.3 million

Estimated loss to the fundnot givenFSLIC

Largest in the quarterly reports$247.5 millionDecember 31, 1985

Equity to assets-14.6%September 30, 1988

Loans not being repaid22.1%noncurrent, September 30, 1988

Return on assets-13.11%a year's rate, September 30, 1988

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Also ended in 1988

American S&LA · Stockton · $30.2 billion in assets · assisted
First Republicbank-Dallas, N.A. · Dallas, TX · $17.1 billion in assets
Gibraltar SA · Houston · $6.5 billion in assets · assisted
United Savings Association of Texas · Houston · $4.6 billion in assets · assisted
First City, Texas - Houston, NA · Houston · $4.4 billion in assets · assisted
First Texas Savings Association · Dallas · $3.1 billion in assets · assisted

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.