The Graveyard › Banks › 1990
The Seamen'S Bank of Savings, Fs
New York, NY · failed April 18, 1990 · FDIC certificate 16070
The Seamen'S Bank of Savings, Fs of New York, NY failed on April 18, 1990. It opened on May 11, 1829, 160 years before. At its last report before that it held $3.4 billion in assets and $2.1 billion in deposits. At its largest in the FDIC's quarterly reports, on September 30, 1988, it held $5.0 billion. The FDIC estimates that the Bank Insurance Fund lost $148.0 million on it.
1984-031990-03
Assets at the end$3.4 billionlast report before April 18, 1990
Deposits at the end$2.1 billion
Estimated loss to the fund$148.0 millionBIF
Largest in the quarterly reports$5.0 billionSeptember 30, 1988
Equity to assets-4.0%March 31, 1990
Loans not being repaid11.1%noncurrent, March 31, 1990
Return on assets-4.18%a year's rate, March 31, 1990
Staff329full time, March 31, 1990
Also ended in 1990
- Imperial Federal Savings Association · San Diego, CA · $9.6 billion in assets
- Franklin Fsa · Ottawa · $9.3 billion in assets
- Centrust Bank, SB · Miami, FL · $8.2 billion in assets
- Empire of America FSB · Buffalo, NY · $8.2 billion in assets
- Merabank FSB · Phoenix, AZ · $6.3 billion in assets
- Southwest Savings Association · Dallas, TX · $5.3 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.