The Graveyard › Banks › 1987

Surety Fs&La

Morganton · assisted December 11, 1987 · FDIC certificate 30411

Surety Fs&La of Morganton was given assistance by the FSLIC on December 11, 1987. The FDIC's list records an assistance transaction, not a closing. It opened in 1925, 62 years before. At its last report before that it held $124.9 million in assets and $111.5 million in deposits. At its largest in the FDIC's quarterly reports, on March 31, 1985, it held $200.7 million. The FDIC's list gives no estimate of the loss: the FDIC says its figures are not complete for its own cases before 1986 or for FSLIC cases from 1934 to 1988.

1984-031987-09

Assets at the end$124.9 millionlast report before December 11, 1987

Deposits at the end$111.5 million

Estimated loss to the fundnot givenFSLIC

Largest in the quarterly reports$200.7 millionMarch 31, 1985

Equity to assets-7.2%September 30, 1987

Loans not being repaid1.3%noncurrent, September 30, 1987

Return on assets0.43%a year's rate, September 30, 1987

Could you have seen it coming? Play Black Monday

Also ended in 1987

Lyons Federal Trust & Savings · Countryside · $2.3 billion in assets · assisted
Freedom S&LA · Tampa, FL · $1.9 billion in assets
Vernon S&LA · Vernon, TX · $1.3 billion in assets
Syracuse Savings Bank · Syracuse · $1.2 billion in assets · assisted
Independent American SA · Irving, TX · $1.0 billion in assets
First Financial Bank, FSB · New Orleans · $744.9 million in assets · assisted

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.