The Graveyard › Banks › 1990
First American Bank for Savings
Boston, MA · failed October 19, 1990 · FDIC certificate 22064
First American Bank for Savings of Boston, MA failed on October 19, 1990. It opened in 1894, 96 years before. At its last report before that it held $526.2 million in assets and $489.3 million in deposits. At its largest in the FDIC's quarterly reports, on June 30, 1988, it held $723.4 million. The FDIC estimates that the Bank Insurance Fund lost $138.0 million on it.
1984-031990-06
Assets at the end$526.2 millionlast report before October 19, 1990
Deposits at the end$489.3 million
Estimated loss to the fund$138.0 millionBIF
Largest in the quarterly reports$723.4 millionJune 30, 1988
Equity to assets0.3%June 30, 1990
Loans not being repaid18.3%noncurrent, June 30, 1990
Return on assets-5.15%a year's rate, June 30, 1990
Staff164full time, June 30, 1990
Also ended in 1990
- Imperial Federal Savings Association · San Diego, CA · $9.6 billion in assets
- Franklin Fsa · Ottawa · $9.3 billion in assets
- Centrust Bank, SB · Miami, FL · $8.2 billion in assets
- Empire of America FSB · Buffalo, NY · $8.2 billion in assets
- Merabank FSB · Phoenix, AZ · $6.3 billion in assets
- Southwest Savings Association · Dallas, TX · $5.3 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.