The Graveyard › Banks › 1988

Morehead National Bank

Morehead · assisted March 15, 1988 · FDIC certificate 25783

Morehead National Bank of Morehead was given assistance by the FDIC on March 15, 1988. The FDIC's list records an assistance transaction, not a closing. It opened on November 19, 1984, 3 years before. At its last report before that it held $7.6 million in assets and $7.9 million in deposits. At its largest in the FDIC's quarterly reports, on March 31, 1986, it held $12.9 million. The FDIC estimates that the FDIC's insurance fund lost $974,179 on it.

1984-121987-12

Assets at the end$7.6 millionlast report before March 15, 1988

Deposits at the end$7.9 million

Estimated loss to the fund$974,179FDIC

Largest in the quarterly reports$12.9 millionMarch 31, 1986

Equity to assets-8.1%December 31, 1987

Loans not being repaid17.3%noncurrent, December 31, 1987

Return on assets-10.32%a year's rate, December 31, 1987

Staff7full time, December 31, 1987

Could you have seen it coming? Play Black Monday

Also ended in 1988

American S&LA · Stockton · $30.2 billion in assets · assisted
First Republicbank-Dallas, N.A. · Dallas, TX · $17.1 billion in assets
Gibraltar SA · Houston · $6.5 billion in assets · assisted
United Savings Association of Texas · Houston · $4.6 billion in assets · assisted
First City, Texas - Houston, NA · Houston · $4.4 billion in assets · assisted
First Texas Savings Association · Dallas · $3.1 billion in assets · assisted

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.