Bank Failure
Alpha Indian Rock FS & La
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Closed February 28, 1992 · Philadelphia, PA · FDIC Cert #31238.
- Closing date
- February 28, 1992
- Headquarters
- Philadelphia, PA
- FDIC Certificate
- 31238
- Total assets at closing
- $7.2M
- Total deposits at closing
- $7.7M
- Estimated loss to the insurance fund
- $2.8M
- Insurance fund
- Resolution Trust Corporation (RTC)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Roxborough-Manayunk
Context
On February 28, 1992, regulators closed Alpha Indian Rock FS & La, headquartered in Philadelphia, PA. At closing, the institution held approximately $7.2M in assets and $7.7M in deposits. The FDIC record names Roxborough-Manayunk as the acquiring institution in the resolution. The estimated cost to the Resolution Trust Corporation (RTC) was approximately $2.8M.
By assets at closing this is the 2896th largest of the 3,526 bank failures in the FDIC record, and the 174th of 179 in 1992. It falls in the period the record labels S&L / Banking Crisis (1980-1995), a period with 2,367 failures peaking at 530 in 1989.
Deregulation, interest-rate shocks, and commercial real estate blowups produced the worst US banking failure wave since the Depression. Resulted in FIRREA (1989) and the RTC.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did Alpha Indian Rock FS & La fail?
Alpha Indian Rock FS & La was closed by regulators on February 28, 1992.
Who acquired Alpha Indian Rock FS & La?
The FDIC record names Roxborough-Manayunk as the acquiring institution in the resolution of Alpha Indian Rock FS & La.
How big was Alpha Indian Rock FS & La when it failed?
Alpha Indian Rock FS & La had approximately $7.2M in total assets and $7.7M in deposits at the time of failure.
Other failures in 1992
| Date | Bank | Assets |
|---|---|---|
| Dec 18, 1992 | The Rushville National Bank | $41.6M |
| Dec 18, 1992 | The Bremen State Bank | $2.7M |
| Dec 11, 1992 | Meritor Savings Bank | $4.13B |
| Dec 11, 1992 | Eastland Savings Bank | $515.3M |
| Dec 11, 1992 | Eastland Bank | $85.4M |
| Dec 11, 1992 | Sailors & Merchants B&T Co. | $34.8M |
| Dec 8, 1992 | Palm Beach FSA | $59.4M |
| Dec 4, 1992 | Carteret FSB | $4.83B |
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