The Graveyard › Banks › 1990
First Atlantic S & La
Plainfield, NJ · failed February 23, 1990 · FDIC certificate 27739
First Atlantic S & La of Plainfield, NJ failed on February 23, 1990. It opened in 1929, 61 years before. At its last report before that it held $1.3 billion in assets and $1.0 billion in deposits. At its largest in the FDIC's quarterly reports, on December 31, 1988, it held $1.4 billion. The FDIC estimates that the Resolution Trust Corporation lost $233.5 million on it.
1984-031989-12
Assets at the end$1.3 billionlast report before February 23, 1990
Deposits at the end$1.0 billion
Estimated loss to the fund$233.5 millionRTC
Largest in the quarterly reports$1.4 billionDecember 31, 1988
Equity to assets1.3%December 31, 1989
Loans not being repaid8.9%noncurrent, December 31, 1989
Return on assets-0.62%a year's rate, December 31, 1989
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.