The Graveyard › Banks › 1987
Vernon S&LA
Vernon, TX · failed March 20, 1987 · FDIC certificate 31171
Vernon S&LA of Vernon, TX failed on March 20, 1987. It opened on September 21, 1960, 26 years before. At its last report before that it held $1.3 billion in assets and $1.6 billion in deposits. At its largest in the FDIC's quarterly reports, on September 30, 1986, it held $1.7 billion. The FDIC estimates that the FSLIC's fund lost $1.1 billion on it.
1984-031986-12
Assets at the end$1.3 billionlast report before March 20, 1987
Deposits at the end$1.6 billion
Estimated loss to the fund$1.1 billionFSLIC
Largest in the quarterly reports$1.7 billionSeptember 30, 1986
Equity to assets-26.0%December 31, 1986
Loans not being repaid63.1%noncurrent, December 31, 1986
Return on assets-27.45%a year's rate, December 31, 1986
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
- 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
- Victor S&LA · Muskogee, OK · $601.3 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.