The Graveyard › Banks › 1989
Southmost S & L
Brownsville · failed March 2, 1989 · FDIC certificate 31394
Southmost S & L of Brownsville failed on March 2, 1989. It opened on August 2, 1963, 25 years before. At its last report before that it held $95.8 million in assets and $113.0 million in deposits. At its largest in the FDIC's quarterly reports, on June 30, 1985, it held $137.2 million. The FDIC estimates that the Resolution Trust Corporation lost $59.3 million on it.
1984-031988-12
Assets at the end$95.8 millionlast report before March 2, 1989
Deposits at the end$113.0 million
Estimated loss to the fund$59.3 millionRTC
Largest in the quarterly reports$137.2 millionJune 30, 1985
Equity to assets-33.7%December 31, 1988
Loans not being repaid13.1%noncurrent, December 31, 1988
Return on assets-16.87%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.