The Graveyard › Banks › 1987
Independent American SA
Irving, TX · failed May 20, 1987 · FDIC certificate 31130
Independent American SA of Irving, TX failed on May 20, 1987. It opened in 1959, 28 years before. At its last report before that it held $1.0 billion in assets and $1.4 billion in deposits. At its largest in the FDIC's quarterly reports, on December 31, 1985, it held $1.9 billion. The FDIC estimates that the FSLIC's fund lost $1.6 billion on it.
1984-031987-03
Assets at the end$1.0 billionlast report before May 20, 1987
Deposits at the end$1.4 billion
Estimated loss to the fund$1.6 billionFSLIC
Largest in the quarterly reports$1.9 billionDecember 31, 1985
Equity to assets-51.1%March 31, 1987
Loans not being repaid77.4%noncurrent, March 31, 1987
Return on assets-12.38%a year's rate, March 31, 1987
Also ended in 1987
- Lyons Federal Trust & Savings · Countryside · $2.3 billion in assets · assisted
- Freedom S&LA · Tampa, FL · $1.9 billion in assets
- Vernon S&LA · Vernon, TX · $1.3 billion in assets
- Syracuse Savings Bank · Syracuse · $1.2 billion in assets · assisted
- 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.