The Graveyard › Banks › 1989
Spindletop SA
Beaumont, TX · failed March 16, 1989 · FDIC certificate 32129
Spindletop SA of Beaumont, TX failed on March 16, 1989. It opened in 1980, 9 years before. At its last report before that it held $180.5 million in assets and $325.3 million in deposits. At its largest in the FDIC's quarterly reports, on June 30, 1987, it held $305.6 million. The FDIC estimates that the Resolution Trust Corporation lost $266.8 million on it.
1984-031988-12
Assets at the end$180.5 millionlast report before March 16, 1989
Deposits at the end$325.3 million
Estimated loss to the fund$266.8 millionRTC
Largest in the quarterly reports$305.6 millionJune 30, 1987
Equity to assets-89.4%December 31, 1988
Loans not being repaid22.1%noncurrent, December 31, 1988
Return on assets-47.65%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.