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Phenix Fs&La

Phenix City, AL · failed September 18, 1987 · FDIC certificate 31665

Phenix Fs&La of Phenix City, AL failed on September 18, 1987. It opened on September 21, 1973, 13 years before. At its last report before that it held $225.5 million in assets and $235.5 million in deposits. At its largest in the FDIC's quarterly reports, on March 31, 1985, it held $292.3 million. The FDIC's list gives no estimate of the loss: the FDIC says its figures are not complete for its own cases before 1986 or for FSLIC cases from 1934 to 1988.

1984-031987-06

Assets at the end$225.5 millionlast report before September 18, 1987

Deposits at the end$235.5 million

Estimated loss to the fundnot givenFSLIC

Largest in the quarterly reports$292.3 millionMarch 31, 1985

Equity to assets-4.6%June 30, 1987

Loans not being repaid24.1%noncurrent, June 30, 1987

Return on assets-3.02%a year's rate, June 30, 1987

Could you have seen it coming? Play Black Monday

Also ended in 1987

Lyons Federal Trust & Savings · Countryside · $2.3 billion in assets · assisted
Freedom S&LA · Tampa, FL · $1.9 billion in assets
Vernon S&LA · Vernon, TX · $1.3 billion in assets
Syracuse Savings Bank · Syracuse · $1.2 billion in assets · assisted
Independent American SA · Irving, TX · $1.0 billion in assets
First Financial Bank, FSB · New Orleans · $744.9 million 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.