The Graveyard › Banks › 1989
Summit Bank
San Antonio, TX · failed August 24, 1989 · FDIC certificate 21256
Summit Bank of San Antonio, TX failed on August 24, 1989. It opened on October 9, 1973, 15 years before. At its last report before that it held $19.2 million in assets and $18.5 million in deposits. At its largest in the FDIC's quarterly reports, on December 31, 1987, it held $30.3 million. The FDIC estimates that the Bank Insurance Fund lost $3.9 million on it.
1984-031989-06
Assets at the end$19.2 millionlast report before August 24, 1989
Deposits at the end$18.5 million
Estimated loss to the fund$3.9 millionBIF
Largest in the quarterly reports$30.3 millionDecember 31, 1987
Equity to assets2.7%June 30, 1989
Loans not being repaid11.0%noncurrent, June 30, 1989
Return on assets-0.96%a year's rate, June 30, 1989
Staff13full time, June 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.