The Graveyard › Banks › 1991
Southcoast Bank Corporation
West Palm Beach, FL · failed August 9, 1991 · FDIC certificate 21605
Southcoast Bank Corporation of West Palm Beach, FL failed on August 9, 1991. It opened on May 29, 1974, 17 years before. At its last report before that it held $26.1 million in assets and $26.7 million in deposits. At its largest in the FDIC's quarterly reports, on March 31, 1990, it held $31.4 million. The FDIC estimates that the Bank Insurance Fund lost $12.6 million on it.
1984-031991-06
Assets at the end$26.1 millionlast report before August 9, 1991
Deposits at the end$26.7 million
Estimated loss to the fund$12.6 millionBIF
Largest in the quarterly reports$31.4 millionMarch 31, 1990
Equity to assets-4.9%June 30, 1991
Loans not being repaid36.8%noncurrent, June 30, 1991
Return on assets-12.33%a year's rate, June 30, 1991
Staff16full time, June 30, 1991
Also ended in 1991
- Bank of New England, National Association · Boston, MA · $13.4 billion in assets
- Southeast Bank, National Association · Miami, FL · $11.0 billion in assets
- Goldome · Buffalo, NY · $9.9 billion in assets
- Great American Fsa · San Diego, CA · $9.5 billion in assets
- The Connecticut Bank & Trust Co · Hartford, CT · $7.2 billion in assets
- Sunbelt Savings · Irving, TX · $6.0 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.