The Graveyard › Banks › 1988

First Fs&La of Grand Rapids

Grand Rapids · assisted August 26, 1988 · FDIC certificate 30868

First Fs&La of Grand Rapids of Grand Rapids was given assistance by the FSLIC on August 26, 1988. The FDIC's list records an assistance transaction, not a closing. It opened in 1919, 69 years before. At its last report before that it held $105.9 million in assets and $96.9 million in deposits. At its largest in the FDIC's quarterly reports, on September 30, 1984, it held $175.5 million. The FDIC estimates that the FSLIC's fund lost $44.6 million on it.

1984-031988-06

Assets at the end$105.9 millionlast report before August 26, 1988

Deposits at the end$96.9 million

Estimated loss to the fund$44.6 millionFSLIC

Largest in the quarterly reports$175.5 millionSeptember 30, 1984

Equity to assets-27.3%June 30, 1988

Loans not being repaid16.0%noncurrent, June 30, 1988

Return on assets-2.56%a year's rate, June 30, 1988

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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.