The Graveyard › Banks › 1990
Merabank FSB
Phoenix, AZ · failed January 31, 1990 · FDIC certificate 31400
Merabank FSB of Phoenix, AZ failed on January 31, 1990. It opened in 1963, 27 years before. At its last report before that it held $6.3 billion in assets and $4.8 billion in deposits. At its largest in the FDIC's quarterly reports, on September 30, 1988, it held $7.2 billion. The FDIC estimates that the Resolution Trust Corporation lost $671.5 million on it.
1984-031989-12
Assets at the end$6.3 billionlast report before January 31, 1990
Deposits at the end$4.8 billion
Estimated loss to the fund$671.5 millionRTC
Largest in the quarterly reports$7.2 billionSeptember 30, 1988
Equity to assets-3.5%December 31, 1989
Loans not being repaid12.4%noncurrent, December 31, 1989
Return on assets-6.64%a year's rate, December 31, 1989
Also ended in 1990
- Imperial Federal Savings Association · San Diego, CA · $9.6 billion in assets
- Franklin Fsa · Ottawa · $9.3 billion in assets
- Centrust Bank, SB · Miami, FL · $8.2 billion in assets
- Empire of America FSB · Buffalo, NY · $8.2 billion in assets
- Southwest Savings Association · Dallas, TX · $5.3 billion in assets
- Atlantic Financial Savings · Bala Cynwyd, PA · $5.3 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.