The Graveyard › Banks › 1989
Midwest Federal Savings
Minneapolis, MN · failed February 13, 1989 · FDIC certificate 30540
Midwest Federal Savings of Minneapolis, MN failed on February 13, 1989. It opened in 1891, 98 years before. At its last report before that it held $3.3 billion in assets and $2.2 billion in deposits. At its largest in the FDIC's quarterly reports, on June 30, 1988, it held $3.5 billion. The FDIC estimates that the Resolution Trust Corporation lost $754.8 million on it.
1984-031988-12
Assets at the end$3.3 billionlast report before February 13, 1989
Deposits at the end$2.2 billion
Estimated loss to the fund$754.8 millionRTC
Largest in the quarterly reports$3.5 billionJune 30, 1988
Equity to assets-12.9%December 31, 1988
Loans not being repaid5.0%noncurrent, December 31, 1988
Return on assets-10.86%a year's rate, 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.