The Graveyard › Banks › 1991
Sovereign SB
Palm Harbor, FL · failed March 15, 1991 · FDIC certificate 32514
Sovereign SB of Palm Harbor, FL failed on March 15, 1991. It opened on December 18, 1986, 4 years before. At its last report before that it held $38.9 million in assets and $33.8 million in deposits. At its largest in the FDIC's quarterly reports, on December 31, 1988, it held $56.5 million. The FDIC estimates that the Resolution Trust Corporation lost $3.4 million on it.
1987-031990-12
Assets at the end$38.9 millionlast report before March 15, 1991
Deposits at the end$33.8 million
Estimated loss to the fund$3.4 millionRTC
Largest in the quarterly reports$56.5 millionDecember 31, 1988
Equity to assets0.6%December 31, 1990
Loans not being repaid15.3%noncurrent, December 31, 1990
Return on assets-2.93%a year's rate, December 31, 1990
Staff9full time, December 31, 1990
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.