The Graveyard › Banks › 1989
Merchants Marine Bank
Port Isabel, TX · failed March 16, 1989 · FDIC certificate 18183
Merchants Marine Bank of Port Isabel, TX failed on March 16, 1989. It opened on May 2, 1960, 28 years before. At its last report before that it held $30.8 million in assets and $30.4 million in deposits. The FDIC estimates that the FDIC's insurance fund lost $12.2 million on it.
1984-031988-12
Assets at the end$30.8 millionlast report before March 16, 1989
Deposits at the end$30.4 million
Estimated loss to the fund$12.2 millionFDIC
Equity to assets0.8%December 31, 1988
Loans not being repaid14.8%noncurrent, December 31, 1988
Return on assets-5.94%a year's rate, December 31, 1988
Staff26full time, December 31, 1988
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.