The Graveyard › Banks › 1989
Midwestern SA
Macomb · failed March 16, 1989 · FDIC certificate 27829
Midwestern SA of Macomb failed on March 16, 1989. It opened in 1882, 107 years before. At its last report before that it held $110.7 million in assets and $101.2 million in deposits. At its largest in the FDIC's quarterly reports, on September 30, 1986, it held $125.2 million. The FDIC estimates that the Resolution Trust Corporation lost $24.6 million on it.
1984-031988-12
Assets at the end$110.7 millionlast report before March 16, 1989
Deposits at the end$101.2 million
Estimated loss to the fund$24.6 millionRTC
Largest in the quarterly reports$125.2 millionSeptember 30, 1986
Equity to assets-8.9%December 31, 1988
Loans not being repaid2.8%noncurrent, December 31, 1988
Return on assets-1.94%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.