The Graveyard › Banks › 1996

Union Federal Bank, FSB

Los Angeles, CA · failed August 9, 1996 · FDIC certificate 29236

Union Federal Bank, FSB of Los Angeles, CA failed on August 9, 1996. It opened on December 17, 1934, 61 years before. At its last report before that it held $32.6 million in assets and $32.7 million in deposits. At its largest in the FDIC's quarterly reports, on June 30, 1990, it held $2.5 billion. The FDIC estimates that the Savings Association Insurance Fund lost $21.9 million on it.

1984-031996-06

Assets at the end$32.6 millionlast report before August 9, 1996

Deposits at the end$32.7 million

Estimated loss to the fund$21.9 millionSAIF

Largest in the quarterly reports$2.5 billionJune 30, 1990

Equity to assets-2.4%June 30, 1996

Loans not being repaid0.6%noncurrent, June 30, 1996

Return on assets-13.37%a year's rate, June 30, 1996

Staff8full time, June 30, 1996

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Also ended in 1996

First NB of the Panhandle · Panhandle, TX · $68.1 million in assets
Fairfield First Bank & Trust Co · Southport, CT · $57.3 million in assets
Metrobank of Philadelphia · Philadelphia, PA · $40.4 million in assets
Peoples Bank and Trust · Borger, TX · $22.7 million in assets
Commonwealth Thrift and Loan · Torrance, CA · $11.5 million 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.