The Graveyard › Banks › 1989
Royal Palm Savings Bank
West Palm Beach, FL · failed March 16, 1989 · FDIC certificate 32160
Royal Palm Savings Bank of West Palm Beach, FL failed on March 16, 1989. It opened on March 31, 1983, 5 years before. At its last report before that it held $564.0 million in assets and $491.0 million in deposits. The FDIC estimates that the Resolution Trust Corporation lost $187.9 million on it.
1984-031988-12
Assets at the end$564.0 millionlast report before March 16, 1989
Deposits at the end$491.0 million
Estimated loss to the fund$187.9 millionRTC
Largest in the quarterly reports$569.4 millionSeptember 30, 1988
Equity to assets-3.0%December 31, 1988
Loans not being repaid17.5%noncurrent, December 31, 1988
Return on assets-6.07%a year's rate, December 31, 1988
Also ended in 1989
- Gibraltar Savings, FA · Simi Valley, CA · $13.4 billion in assets
- City Savings, FSB · Somerset, NJ · $9.8 billion in assets
- MBank Dallas, National Association · Dallas, TX · $6.6 billion in assets
- Western Savings & Loan · Phoenix, AZ · $5.7 billion in assets
- Lincoln Savings & Loan · Irvine, CA · $4.9 billion in assets
- University Federal Savings · Houston, TX · $4.5 billion 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.