The Graveyard › Banks › 1988

First Federated Savings Bank

N. Palm Beach · assisted March 11, 1988 · FDIC certificate 31371

First Federated Savings Bank of N. Palm Beach was given assistance by the FSLIC on March 11, 1988. The FDIC's list records an assistance transaction, not a closing. It opened on December 5, 1962, 25 years before. At its last report before that it held $141.7 million in assets and $155.2 million in deposits. At its largest in the FDIC's quarterly reports, on December 31, 1986, it held $219.7 million. The FDIC estimates that the FSLIC's fund lost $90.6 million on it.

1984-031987-12

Assets at the end$141.7 millionlast report before March 11, 1988

Deposits at the end$155.2 million

Estimated loss to the fund$90.6 millionFSLIC

Largest in the quarterly reports$219.7 millionDecember 31, 1986

Equity to assets-27.7%December 31, 1987

Loans not being repaid18.2%noncurrent, December 31, 1987

Return on assets-23.49%a year's rate, December 31, 1987

Could you have seen it coming? Play Black Monday

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.