The Graveyard › Banks › 1993
New Atlantic Bank, NA
Norfolk, VA · failed August 12, 1993 · FDIC certificate 32728
New Atlantic Bank, NA of Norfolk, VA failed on August 12, 1993. It opened on December 7, 1989, 3 years before. At its last report before that it held $15.1 million in assets and $14.4 million in deposits. At its largest in the FDIC's quarterly reports, on March 31, 1992, it held $19.0 million. The FDIC estimates that the Bank Insurance Fund lost $792,379 on it.
1989-121993-06
Assets at the end$15.1 millionlast report before August 12, 1993
Deposits at the end$14.4 million
Estimated loss to the fund$792,379BIF
Largest in the quarterly reports$19.0 millionMarch 31, 1992
Equity to assets4.2%June 30, 1993
Loans not being repaid8.4%noncurrent, June 30, 1993
Return on assets-0.36%a year's rate, June 30, 1993
Staff18full time, June 30, 1993
Also ended in 1993
- Western FSB · Marina Del Ray, CA · $3.8 billion in assets
- Old Stone SB · Providence, RI · $1.8 billion in assets
- New England Savings Bank · New London, CT · $914.9 million in assets
- First National Bank of Vermont · Bradford, VT · $295.8 million in assets
- The Bank of San Diego · San Diego, CA · $294.3 million in assets
- Jefferson National Bank · Watertown, NY · $256.0 million 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.