The Graveyard › Banks › 1989
Security Homestead Federal
New Orleans, LA · failed August 7, 1989 · FDIC certificate 28237
Security Homestead Federal of New Orleans, LA failed on August 7, 1989. It opened in 1893, 96 years before. At its last report before that it held $547.6 million in assets and $538.6 million in deposits. At its largest in the FDIC's quarterly reports, on September 30, 1988, it held $606.7 million. The FDIC estimates that the Resolution Trust Corporation lost $70.8 million on it.
1984-031989-06
Assets at the end$547.6 millionlast report before August 7, 1989
Deposits at the end$538.6 million
Estimated loss to the fund$70.8 millionRTC
Largest in the quarterly reports$606.7 millionSeptember 30, 1988
Equity to assets-10.2%June 30, 1989
Loans not being repaid3.8%noncurrent, June 30, 1989
Return on assets-2.79%a year's rate, June 30, 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.