The Graveyard › Banks › 1989

Modern Fed. S & L Association

Grand Junction, CO · failed March 9, 1989 · FDIC certificate 28775

Modern Fed. S & L Association of Grand Junction, CO failed on March 9, 1989. It opened in 1904, 85 years before. At its last report before that it held $70.4 million in assets and $71.5 million in deposits. At its largest in the FDIC's quarterly reports, on December 31, 1987, it held $84.8 million. The FDIC estimates that the Resolution Trust Corporation lost $2.2 million on it.

1984-031988-12

Assets at the end$70.4 millionlast report before March 9, 1989

Deposits at the end$71.5 million

Estimated loss to the fund$2.2 millionRTC

Largest in the quarterly reports$84.8 millionDecember 31, 1987

Equity to assets-3.4%December 31, 1988

Loans not being repaid3.2%noncurrent, December 31, 1988

Return on assets-1.37%a year's rate, December 31, 1988

On the FDIC's list: MODERN FED. S & L ASSOC..

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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.