The Graveyard › Banks › 1989
Grand Canyon State Bank
Scottsdale, AZ · failed May 19, 1989 · FDIC certificate 23753
Grand Canyon State Bank of Scottsdale, AZ failed on May 19, 1989. It opened on April 1, 1982, 7 years before. At its last report before that it held $14.6 million in assets and $13.2 million in deposits. At its largest in the FDIC's quarterly reports, on June 30, 1985, it held $49.4 million. The FDIC estimates that the FDIC's insurance fund lost $4.4 million on it.
1984-031989-03
Assets at the end$14.6 millionlast report before May 19, 1989
Deposits at the end$13.2 million
Estimated loss to the fund$4.4 millionFDIC
Largest in the quarterly reports$49.4 millionJune 30, 1985
Equity to assets6.2%March 31, 1989
Loans not being repaid13.1%noncurrent, March 31, 1989
Return on assets-4.57%a year's rate, March 31, 1989
Staff8full time, March 31, 1989
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.