The Graveyard › Banks › 1987

Firstbanc FSB

Gonzales · assisted December 30, 1987 · FDIC certificate 31835

Firstbanc FSB of Gonzales was given assistance by the FSLIC on December 30, 1987. The FDIC's list records an assistance transaction, not a closing. It opened on December 29, 1976, 11 years before. At its last report before that it held $46.3 million in assets and $47.1 million in deposits. At its largest in the FDIC's quarterly reports, on December 31, 1985, it held $71.8 million. The FDIC estimates that the FSLIC's fund lost $33.1 million on it.

1984-031987-09

Assets at the end$46.3 millionlast report before December 30, 1987

Deposits at the end$47.1 million

Estimated loss to the fund$33.1 millionFSLIC

Largest in the quarterly reports$71.8 millionDecember 31, 1985

Equity to assets-32.8%September 30, 1987

Loans not being repaid30.9%noncurrent, September 30, 1987

Return on assets-5.87%a year's rate, September 30, 1987

Could you have seen it coming? Play Black Monday

Also ended in 1987

Lyons Federal Trust & Savings · Countryside · $2.3 billion in assets · assisted
Freedom S&LA · Tampa, FL · $1.9 billion in assets
Vernon S&LA · Vernon, TX · $1.3 billion in assets
Syracuse Savings Bank · Syracuse · $1.2 billion in assets · assisted
Independent American SA · Irving, TX · $1.0 billion in assets
First Financial Bank, FSB · New Orleans · $744.9 million 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.