The Graveyard › Banks › 1989
Southwestern Federal Savings
El Paso, TX · failed November 30, 1989 · FDIC certificate 31601
Southwestern Federal Savings of El Paso, TX failed on November 30, 1989. It opened in 1971, 18 years before. At its last report before that it held $126.4 million in assets and $114.8 million in deposits. At its largest in the FDIC's quarterly reports, on March 31, 1989, it held $139.2 million. The FDIC estimates that the Resolution Trust Corporation lost $63.0 million on it.
1984-031989-09
Assets at the end$126.4 millionlast report before November 30, 1989
Deposits at the end$114.8 million
Estimated loss to the fund$63.0 millionRTC
Largest in the quarterly reports$139.2 millionMarch 31, 1989
Equity to assets-5.0%September 30, 1989
Loans not being repaid34.0%noncurrent, September 30, 1989
Return on assets-10.50%a year's rate, September 30, 1989
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.