FDIC Open-Bank Assistance
Banco Economias
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Assistance provided September 2, 1977 · San German, PR · FDIC Cert #16878.
- Assistance date
- September 2, 1977
- Headquarters
- San German, PR
- FDIC Certificate
- 16878
- Total assets at the time
- $190.3M
- Total deposits at the time
- $170.0M
- 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)
Context
On September 2, 1977, the FDIC provided open-bank assistance to Banco Economias, headquartered in San German, PR. The institution continued operating. At the time it held approximately $190.3M in assets and $170.0M in deposits. No acquirer was involved; the institution remained independent.
The FDIC record for 1977 holds 5 failures and 1 open-bank assistance transaction. It falls in the period the record labels Postwar Stability (1945-1979), a period with 161 failures peaking at 16 in 1976.
Three decades of regulated calm — Reg Q ceilings, geographic branching limits, and high industry profits kept failures rare.
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 Banco Economias?
Banco Economias received FDIC open-bank assistance on September 2, 1977; it did not fail.
How big was Banco Economias at the time of assistance?
Banco Economias had approximately $190.3M in total assets and $170.0M in deposits at the time of assistance.
Bank failures in 1977
| Date | Bank | Assets |
|---|---|---|
| Aug 26, 1977 | Donahue Savings Bank | $5.5M |
| Jul 29, 1977 | Republic National Bank of Louisiana | $6.3M |
| May 20, 1977 | First Augusta Bank & Trust Company | $24.2M |
| Mar 28, 1977 | The Monroe Bank and Trust Company | $4.3M |
| Mar 10, 1977 | First State Bank | $2.0M |
Explore: all failures · PR bank events · 1977 events · events hub