The Graveyard › Banks › 1989

First American Bank and Trust

North Palm Beach, FL · failed December 15, 1989 · FDIC certificate 18002

First American Bank and Trust of North Palm Beach, FL failed on December 15, 1989. It opened on June 4, 1959, 30 years before. At its last report before that it held $1.4 billion in assets and $1.0 billion in deposits. At its largest in the FDIC's quarterly reports, on June 30, 1988, it held $1.6 billion. The FDIC estimates that the Bank Insurance Fund lost $383.1 million on it.

1984-031989-09

Assets at the end$1.4 billionlast report before December 15, 1989

Deposits at the end$1.0 billion

Estimated loss to the fund$383.1 millionBIF

Largest in the quarterly reports$1.6 billionJune 30, 1988

Equity to assets-0.9%September 30, 1989

Loans not being repaid28.6%noncurrent, September 30, 1989

Return on assets-2.01%a year's rate, September 30, 1989

Staff1,751full time, September 30, 1989

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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.