The Graveyard › Banks › 1988

First Fs&La of Hammonton

Hammonton · assisted May 25, 1988 · FDIC certificate 28802

First Fs&La of Hammonton of Hammonton was given assistance by the FSLIC on May 25, 1988. The FDIC's list records an assistance transaction, not a closing. It opened in 1876, 112 years before. At its last report before that it held $237.6 million in assets and $298.3 million in deposits. At its largest in the FDIC's quarterly reports, on June 30, 1984, it held $397.8 million. The FDIC estimates that the FSLIC's fund lost $82.0 million on it.

1984-031988-03

Assets at the end$237.6 millionlast report before May 25, 1988

Deposits at the end$298.3 million

Estimated loss to the fund$82.0 millionFSLIC

Largest in the quarterly reports$397.8 millionJune 30, 1984

Equity to assets-34.1%March 31, 1988

Loans not being repaid25.1%noncurrent, March 31, 1988

Return on assets-6.08%a year's rate, March 31, 1988

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.