The Graveyard › Banks › 1988
Phoenix Fs&La
Muskogee, OK · failed August 31, 1988 · FDIC certificate 29625
Phoenix Fs&La of Muskogee, OK failed on August 31, 1988. It opened in 1909, 79 years before. At its last report before that it held $419.4 million in assets and $382.7 million in deposits. At its largest in the FDIC's quarterly reports, on September 30, 1986, it held $505.4 million. The FDIC estimates that the FSLIC's fund lost $142.4 million on it.
1984-031988-06
Assets at the end$419.4 millionlast report before August 31, 1988
Deposits at the end$382.7 million
Estimated loss to the fund$142.4 millionFSLIC
Largest in the quarterly reports$505.4 millionSeptember 30, 1986
Equity to assets-12.9%June 30, 1988
Loans not being repaid34.8%noncurrent, June 30, 1988
Return on assets-13.45%a year's rate, June 30, 1988
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.