The Graveyard › Banks › 1990

First Network Savings Bank

Los Angeles, CA · failed April 20, 1990 · FDIC certificate 32187

First Network Savings Bank of Los Angeles, CA failed on April 20, 1990. It opened on December 28, 1983, 6 years before. At its last report before that it held $303.8 million in assets and $393.6 million in deposits. At its largest in the FDIC's quarterly reports, on March 31, 1989, it held $532.0 million. The FDIC estimates that the Resolution Trust Corporation lost $186.1 million on it.

1984-031990-03

Assets at the end$303.8 millionlast report before April 20, 1990

Deposits at the end$393.6 million

Estimated loss to the fund$186.1 millionRTC

Largest in the quarterly reports$532.0 millionMarch 31, 1989

Equity to assets-31.5%March 31, 1990

Loans not being repaid69.9%noncurrent, March 31, 1990

Return on assets-7.51%a year's rate, March 31, 1990

Take today's blind test

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.