Bank Failure
Bank USA, N.A.
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Closed May 19, 1995 · Kihei, Maui, HI · FDIC Cert #23751.
- Closing date
- May 19, 1995
- Headquarters
- Kihei, Maui, HI
- FDIC Certificate
- 23751
- Total assets at closing
- $9.0M
- Total deposits at closing
- $9.1M
- Estimated loss to the insurance fund
- $2.6M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Hawaii National Bank
Context
On May 19, 1995, regulators closed Bank USA, N.A., headquartered in Kihei, Maui, HI. At closing, the institution held approximately $9.0M in assets and $9.1M in deposits. The FDIC record names Hawaii National Bank as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $2.6M.
By assets at closing this is the 2825th largest of the 3,526 bank failures in the FDIC record, and the 8th of 8 in 1995. 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 Bank USA, N.A. fail?
Bank USA, N.A. was closed by regulators on May 19, 1995.
Who acquired Bank USA, N.A.?
The FDIC record names Hawaii National Bank as the acquiring institution in the resolution of Bank USA, N.A.
How big was Bank USA, N.A. when it failed?
Bank USA, N.A. had approximately $9.0M in total assets and $9.1M in deposits at the time of failure.
Other failures in 1995
| Date | Bank | Assets |
|---|---|---|
| Jul 28, 1995 | Pacific Heritage Bank | $147.7M |
| Jul 28, 1995 | Founders Bank | $77.4M |
| May 5, 1995 | American S & L Association | $64.4M |
| Apr 28, 1995 | Continental Savings of America | $359.4M |
| Mar 31, 1995 | Los Angeles Thrift and Loan Company | $23.4M |
| Mar 3, 1995 | First Trust Bank | $227.7M |
| Jan 20, 1995 | Guardian Bank | $316.9M |
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