The Graveyard › Banks › 1988
Ultimate Savings Bank
Richmond, VA · failed September 16, 1988 · FDIC certificate 32072
Ultimate Savings Bank of Richmond, VA failed on September 16, 1988. It opened on December 31, 1980, 7 years before. At its last report before that it held $206.5 million in assets and $194.3 million in deposits. At its largest in the FDIC's quarterly reports, on June 30, 1987, it held $218.6 million. The FDIC estimates that the FSLIC's fund lost $34.9 million on it.
1984-031988-06
Assets at the end$206.5 millionlast report before September 16, 1988
Deposits at the end$194.3 million
Estimated loss to the fund$34.9 millionFSLIC
Largest in the quarterly reports$218.6 millionJune 30, 1987
Equity to assets-13.8%June 30, 1988
Loans not being repaid16.7%noncurrent, June 30, 1988
Return on assets-5.69%a year's rate, June 30, 1988
Also ended in 1988
- American S&LA · Stockton · $30.2 billion in assets · assisted
- First Republicbank-Dallas, N.A. · Dallas, TX · $17.1 billion in assets
- Gibraltar SA · Houston · $6.5 billion in assets · assisted
- United Savings Association of Texas · Houston · $4.6 billion in assets · assisted
- First City, Texas - Houston, NA · Houston · $4.4 billion in assets · assisted
- First Texas Savings Association · Dallas · $3.1 billion 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.