The Graveyard › Banks › 1987

Freedom S&LA

Tampa, FL · failed July 23, 1987 · FDIC certificate 28887

Freedom S&LA of Tampa, FL failed on July 23, 1987. It opened on April 1, 1934, 53 years before. At its last report before that it held $1.9 billion in assets and $1.2 billion in deposits. At its largest in the FDIC's quarterly reports, on June 30, 1985, it held $2.7 billion. The FDIC's list gives no estimate of the loss: the FDIC says its figures are not complete for its own cases before 1986 or for FSLIC cases from 1934 to 1988.

1984-031987-06

Assets at the end$1.9 billionlast report before July 23, 1987

Deposits at the end$1.2 billion

Estimated loss to the fundnot givenFSLIC

Largest in the quarterly reports$2.7 billionJune 30, 1985

Equity to assets-4.4%June 30, 1987

Loans not being repaid11.8%noncurrent, June 30, 1987

Return on assets-1.64%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
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
Victor S&LA · Muskogee, OK · $601.3 million 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.