The Graveyard › Banks › 1989

Southern Floridabanc Federal

Boca Raton, FL · failed February 17, 1989 · FDIC certificate 32535

Southern Floridabanc Federal of Boca Raton, FL failed on February 17, 1989. It opened on April 16, 1987, 1 year before. At its last report before that it held $143.3 million in assets and $256.2 million in deposits. At its largest in the FDIC's quarterly reports, on December 31, 1987, it held $227.2 million. The FDIC estimates that the Resolution Trust Corporation lost $162.0 million on it.

1987-061988-12

Assets at the end$143.3 millionlast report before February 17, 1989

Deposits at the end$256.2 million

Estimated loss to the fund$162.0 millionRTC

Largest in the quarterly reports$227.2 millionDecember 31, 1987

Equity to assets-82.5%December 31, 1988

Loans not being repaid51.5%noncurrent, December 31, 1988

Return on assets-11.78%a year's rate, December 31, 1988

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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.