The Graveyard › Banks › 1989
First Service Bank for Savings
Leominster, MA · failed March 31, 1989 · FDIC certificate 21973
First Service Bank for Savings of Leominster, MA failed on March 31, 1989. It opened on March 26, 1865, 124 years before. At its last report before that it held $880.7 million in assets and $683.4 million in deposits. The FDIC estimates that the FDIC's insurance fund lost $288.2 million on it.
1984-031988-12
Assets at the end$880.7 millionlast report before March 31, 1989
Deposits at the end$683.4 million
Estimated loss to the fund$288.2 millionFDIC
Largest in the quarterly reports$905.4 millionJune 30, 1988
Equity to assets0.2%December 31, 1988
Loans not being repaid26.2%noncurrent, December 31, 1988
Return on assets-7.10%a year's rate, December 31, 1988
Staff357full time, December 31, 1988
Also ended in 1989
- Gibraltar Savings, FA · Simi Valley, CA · $13.4 billion in assets
- City Savings, FSB · Somerset, NJ · $9.8 billion in assets
- MBank Dallas, National Association · Dallas, TX · $6.6 billion in assets
- Western Savings & Loan · Phoenix, AZ · $5.7 billion in assets
- Lincoln Savings & Loan · Irvine, CA · $4.9 billion in assets
- University Federal Savings · Houston, TX · $4.5 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.