The Graveyard › Banks › 1994
Mechanics National Bank
Paramount, CA · failed April 1, 1994 · FDIC certificate 19367
Mechanics National Bank of Paramount, CA failed on April 1, 1994. It opened on February 4, 1965, 29 years before. At its last report before that it held $148.7 million in assets and $148.9 million in deposits. At its largest in the FDIC's quarterly reports, on March 31, 1992, it held $272.8 million. The FDIC estimates that the Bank Insurance Fund lost $47.7 million on it.
1984-031993-12
Assets at the end$148.7 millionlast report before April 1, 1994
Deposits at the end$148.9 million
Estimated loss to the fund$47.7 millionBIF
Largest in the quarterly reports$272.8 millionMarch 31, 1992
Equity to assets-2.4%December 31, 1993
Loans not being repaid25.5%noncurrent, December 31, 1993
Return on assets-8.60%a year's rate, December 31, 1993
Staff177full time, December 31, 1993
Also ended in 1994
- The Bank of Hartford · Hartford, CT · $321.5 million in assets
- Ludlow Savings Bank · Ludlow, MA · $222.7 million in assets
- Bank of Newport · Newport Beach, CA · $167.8 million in assets
- CommerceBank · Newport Beach, CA · $142.3 million in assets
- Pioneer Bank · Fullerton, CA · $133.3 million in assets
- Bank of San Pedro · Los Angeles, CA · $132.6 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.