The Graveyard › Banks › 1989
Security S & La
Scottsdale · failed February 17, 1989 · FDIC certificate 31399
Security S & La of Scottsdale failed on February 17, 1989. It opened in 1962, 27 years before. At its last report before that it held $626.9 million in assets and $1.1 billion in deposits. At its largest in the FDIC's quarterly reports, on March 31, 1986, it held $1.2 billion. The FDIC estimates that the Resolution Trust Corporation lost $788.5 million on it.
1984-031988-12
Assets at the end$626.9 millionlast report before February 17, 1989
Deposits at the end$1.1 billion
Estimated loss to the fund$788.5 millionRTC
Largest in the quarterly reports$1.2 billionMarch 31, 1986
Equity to assets-70.1%December 31, 1988
Loans not being repaid33.4%noncurrent, December 31, 1988
Return on assets-22.67%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.