The Graveyard › Banks › 1989
Great Southern Federal Savings
Savannah, GA · failed June 22, 1989 · FDIC certificate 29507
Great Southern Federal Savings of Savannah, GA failed on June 22, 1989. It opened on August 28, 1935, 53 years before. At its last report before that it held $880.2 million in assets and $629.9 million in deposits. At its largest in the FDIC's quarterly reports, on September 30, 1986, it held $1.0 billion. The FDIC estimates that the Resolution Trust Corporation lost $146.5 million on it.
1984-031989-03
Assets at the end$880.2 millionlast report before June 22, 1989
Deposits at the end$629.9 million
Estimated loss to the fund$146.5 millionRTC
Largest in the quarterly reports$1.0 billionSeptember 30, 1986
Equity to assets-12.6%March 31, 1989
Loans not being repaid14.0%noncurrent, March 31, 1989
Return on assets-49.15%a year's rate, 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.