The Graveyard › Banks › 1992
Independence Bank
Los Angeles, CA · failed January 30, 1992 · FDIC certificate 18675
Independence Bank of Los Angeles, CA failed on January 30, 1992. It opened on January 2, 1963, 29 years before. At its last report before that it held $535.8 million in assets and $547.6 million in deposits. At its largest in the FDIC's quarterly reports, on March 31, 1990, it held $752.1 million. The FDIC estimates that the Bank Insurance Fund lost $137.2 million on it.
1984-031991-12
Assets at the end$535.8 millionlast report before January 30, 1992
Deposits at the end$547.6 million
Estimated loss to the fund$137.2 millionBIF
Largest in the quarterly reports$752.1 millionMarch 31, 1990
Equity to assets-5.7%December 31, 1991
Loans not being repaid20.3%noncurrent, December 31, 1991
Return on assets-13.00%a year's rate, December 31, 1991
Staff269full time, December 31, 1991
Also ended in 1992
- Homefed Bank, FA · San Diego, CA · $12.2 billion in assets
- Crossland Savings Bank, FSB · Brooklyn, NY · $7.4 billion in assets
- Carteret FSB · Madison, NJ · $4.8 billion in assets
- Meritor Savings Bank · Philadelphia, PA · $4.1 billion in assets
- Dollar Dry Dock Bank · White Plains, NY · $4.0 billion in assets
- The Howard Savings Bank · Newark, NJ · $3.5 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.