The Graveyard › Banks › 1989
Seabank Fed. Savings Bank
Myrtle Beach, SC · failed April 27, 1989 · FDIC certificate 32231
Seabank Fed. Savings Bank of Myrtle Beach, SC failed on April 27, 1989. It opened on June 28, 1984, 4 years before. At its last report before that it held $35.4 million in assets and $33.6 million in deposits. At its largest in the FDIC's quarterly reports, on June 30, 1988, it held $41.9 million. The FDIC estimates that the Resolution Trust Corporation lost $5.3 million on it.
1984-091989-03
Assets at the end$35.4 millionlast report before April 27, 1989
Deposits at the end$33.6 million
Estimated loss to the fund$5.3 millionRTC
Largest in the quarterly reports$41.9 millionJune 30, 1988
Equity to assets-6.5%March 31, 1989
Loans not being repaid5.3%noncurrent, March 31, 1989
Return on assets-3.40%a year's rate, March 31, 1989
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.