Bank Failure
American City Bank
BankRegReports is independent of American City Bank and never asks for online banking logins or passwords.
Closed February 25, 1983 · Los Angles, CA · FDIC Cert #19020.
- Closing date
- February 25, 1983
- Headquarters
- Los Angles, CA
- FDIC Certificate
- 19020
- Total assets at closing
- $319.4M
- Total deposits at closing
- $293.9M
- Estimated loss to the insurance fund
- $25.3M
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
- Acquirer
- Central Bank
Context
On February 25, 1983, regulators closed American City Bank, headquartered in Los Angles, CA. At closing, the institution held approximately $319.4M in assets and $293.9M in deposits. The FDIC record names Central Bank as the acquiring institution in the resolution. The estimated cost to the FDIC insurance fund was approximately $25.3M.
By assets at closing this is the 533rd largest of the 3,526 bank failures in the FDIC record, and the 2nd of 50 in 1983. 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 American City Bank fail?
American City Bank was closed by regulators on February 25, 1983.
Who acquired American City Bank?
The FDIC record names Central Bank as the acquiring institution in the resolution of American City Bank.
How big was American City Bank when it failed?
American City Bank had approximately $319.4M in total assets and $293.9M in deposits at the time of failure.
Other failures in 1983
| Date | Bank | Assets |
|---|---|---|
| Dec 16, 1983 | The Bank of Red Oak | $11.1M |
| Dec 13, 1983 | Bank of Hackleburg | $6.5M |
| Dec 9, 1983 | Union Trust Company | $30.6M |
| Dec 2, 1983 | Metro FS&LA | $27.4M |
| Nov 25, 1983 | Atkinson Trust & Savings Bank | $21.1M |
| Nov 11, 1983 | First Nat BK of Browning | $13.7M |
| Nov 3, 1983 | State of Clovis, Sa | $30.9M |
| Oct 28, 1983 | Cleveland Community Savings Co. | $21.0M |
Explore: all failures · CA bank events · 1983 events · events hub