The Graveyard › Banks › 1992
Shore Bank & Trust Co.
Lynn, MA · failed April 24, 1992 · FDIC certificate 27002
Shore Bank & Trust Co. of Lynn, MA failed on April 24, 1992. It opened on July 16, 1987, 4 years before. At its last report before that it held $183.2 million in assets and $184.2 million in deposits. At its largest in the FDIC's quarterly reports, on September 30, 1990, it held $214.5 million. The FDIC estimates that the Bank Insurance Fund lost $70.6 million on it.
1987-091991-12
Assets at the end$183.2 millionlast report before April 24, 1992
Deposits at the end$184.2 million
Estimated loss to the fund$70.6 millionBIF
Largest in the quarterly reports$214.5 millionSeptember 30, 1990
Equity to assets-1.0%December 31, 1991
Loans not being repaid7.9%noncurrent, December 31, 1991
Return on assets-4.19%a year's rate, December 31, 1991
Staff83full time, December 31, 1991
Also ended in 1992
- Homefed Bank, FA · San Diego, CA · $12.2 billion in assets
- Crossland Savings Bank, FSB · Brooklyn, NY · $7.4 billion in assets
- Carteret FSB · Madison, NJ · $4.8 billion in assets
- Meritor Savings Bank · Philadelphia, PA · $4.1 billion in assets
- Dollar Dry Dock Bank · White Plains, NY · $4.0 billion in assets
- The Howard Savings Bank · Newark, NJ · $3.5 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.