The Graveyard › Banks › 1987

Rocky Mountain State Bank

Salt Lake City, UT · failed August 28, 1987 · FDIC certificate 22222

Rocky Mountain State Bank of Salt Lake City, UT failed on August 28, 1987. It opened on February 9, 1976, 11 years before. At its last report before that it held $18.6 million in assets and $17.9 million in deposits. At its largest in the FDIC's quarterly reports, on December 31, 1986, it held $23.5 million. The FDIC estimates that the FDIC's insurance fund lost $3.0 million on it.

1984-031987-06

Assets at the end$18.6 millionlast report before August 28, 1987

Deposits at the end$17.9 million

Estimated loss to the fund$3.0 millionFDIC

Largest in the quarterly reports$23.5 millionDecember 31, 1986

Equity to assets2.7%June 30, 1987

Loans not being repaid22.2%noncurrent, June 30, 1987

Return on assets-1.30%a year's rate, June 30, 1987

Staff29full time, 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.