The Graveyard › Banks › 1989
Horizon Financial, FA
Southampton, PA · failed June 8, 1989 · FDIC certificate 29830
Horizon Financial, FA of Southampton, PA failed on June 8, 1989. It opened in 1921, 68 years before. At its last report before that it held $2.5 billion in assets and $1.8 billion in deposits. At its largest in the FDIC's quarterly reports, on December 31, 1988, it held $2.6 billion. The FDIC estimates that the Resolution Trust Corporation lost $305.9 million on it.
1984-031989-03
Assets at the end$2.5 billionlast report before June 8, 1989
Deposits at the end$1.8 billion
Estimated loss to the fund$305.9 millionRTC
Largest in the quarterly reports$2.6 billionDecember 31, 1988
Equity to assets-7.3%March 31, 1989
Loans not being repaid3.1%noncurrent, March 31, 1989
Return on assets-0.90%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.