The Graveyard › Banks › 1987

Fort Lee S&LA

Fort Lee · assisted June 30, 1987 · FDIC certificate 29917

Fort Lee S&LA of Fort Lee was given assistance by the FSLIC on June 30, 1987. The FDIC's list records an assistance transaction, not a closing. It opened in 1892, 95 years before. At its last report before that it held $170.6 million in assets and $183.3 million in deposits. At its largest in the FDIC's quarterly reports, on March 31, 1986, it held $199.7 million. The FDIC estimates that the FSLIC's fund lost $13.1 million on it.

1984-031987-06

Assets at the end$170.6 millionlast report before June 30, 1987

Deposits at the end$183.3 million

Estimated loss to the fund$13.1 millionFSLIC

Largest in the quarterly reports$199.7 millionMarch 31, 1986

Equity to assets-19.9%June 30, 1987

Loans not being repaid7.9%noncurrent, June 30, 1987

Return on assets-2.35%a year's rate, June 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.