FDIC Open-Bank Assistance
Auburn Savings Bank
BankRegReports is independent of Auburn Savings Bank and never asks for online banking logins or passwords.
Assistance provided October 1, 1983 · Auburn, NY · FDIC Cert #15955.
- Assistance date
- October 1, 1983
- Headquarters
- Auburn, NY
- FDIC Certificate
- 15955
- Total assets at the time
- $133.2M
- Total deposits at the time
- $131.4M
- Estimated loss to the insurance fund
- Not published (the FDIC feed carries no estimate for this transaction)
- Insurance fund
- FDIC insurance fund
- Resolution
- Open-bank assistance (the institution stayed open)
- Acquirer
- Syracuse Savings Bank
Context
On October 1, 1983, the FDIC provided open-bank assistance to Auburn Savings Bank, headquartered in Auburn, NY. The institution continued operating. At the time it held approximately $133.2M in assets and $131.4M in deposits. The FDIC record names Syracuse Savings Bank as the acquiring institution in the assisted transaction.
The FDIC record for 1983 holds 50 failures and 49 open-bank assistance transactions. 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 the FDIC provide assistance to Auburn Savings Bank?
Auburn Savings Bank received FDIC open-bank assistance on October 1, 1983; it did not fail.
How big was Auburn Savings Bank at the time of assistance?
Auburn Savings Bank had approximately $133.2M in total assets and $131.4M in deposits at the time of assistance.
Bank 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 · NY bank events · 1983 events · events hub