The Graveyard › Banks › 1990
Southern Federal Bank for Savings
Gulfport, MS · failed June 22, 1990 · FDIC certificate 31817
Southern Federal Bank for Savings of Gulfport, MS failed on June 22, 1990. It opened in 1959, 31 years before. At its last report before that it held $142.8 million in assets and $93.9 million in deposits. At its largest in the FDIC's quarterly reports, on September 30, 1988, it held $177.5 million. The FDIC estimates that the Resolution Trust Corporation lost $35.0 million on it.
1984-031990-03
Assets at the end$142.8 millionlast report before June 22, 1990
Deposits at the end$93.9 million
Estimated loss to the fund$35.0 millionRTC
Largest in the quarterly reports$177.5 millionSeptember 30, 1988
Equity to assets1.3%March 31, 1990
Loans not being repaid3.2%noncurrent, March 31, 1990
Return on assets-0.85%a year's rate, March 31, 1990
Staff88full time, March 31, 1990
Also ended in 1990
- Imperial Federal Savings Association · San Diego, CA · $9.6 billion in assets
- Franklin Fsa · Ottawa · $9.3 billion in assets
- Centrust Bank, SB · Miami, FL · $8.2 billion in assets
- Empire of America FSB · Buffalo, NY · $8.2 billion in assets
- Merabank FSB · Phoenix, AZ · $6.3 billion in assets
- Southwest Savings Association · Dallas, TX · $5.3 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.