The Graveyard › Banks › 1988

First Fs&La of Craig

Craig · assisted March 10, 1988 · FDIC certificate 29265

First Fs&La of Craig of Craig was given assistance by the FSLIC on March 10, 1988. The FDIC's list records an assistance transaction, not a closing. It opened on December 1, 1934, 53 years before. At its last report before that it held $30.1 million in assets and $33.0 million in deposits. At its largest in the FDIC's quarterly reports, on June 30, 1986, it held $47.4 million. The FDIC estimates that the FSLIC's fund lost $5.5 million on it.

1984-031987-12

Assets at the end$30.1 millionlast report before March 10, 1988

Deposits at the end$33.0 million

Estimated loss to the fund$5.5 millionFSLIC

Largest in the quarterly reports$47.4 millionJune 30, 1986

Equity to assets-12.2%December 31, 1987

Loans not being repaid7.7%noncurrent, December 31, 1987

Return on assets-3.00%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.