Bank Failure
Barbary Coast National Bank
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Closed May 19, 1994 · San Francisco, CA · FDIC Cert #27027.
- Closing date
- May 19, 1994
- Headquarters
- San Francisco, CA
- FDIC Certificate
- 27027
- Total assets at closing
- $10.7M
- Total deposits at closing
- $9.3M
- Estimated loss to the insurance fund
- $684K
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Metropolitan Bank
Context
On May 19, 1994, regulators closed Barbary Coast National Bank, headquartered in San Francisco, CA. At closing, the institution held approximately $10.7M in assets and $9.3M in deposits. The FDIC record names Metropolitan Bank as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $684K.
By assets at closing this is the 2747th largest of the 3,526 bank failures in the FDIC record, and the 14th of 15 in 1994. 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 Barbary Coast National Bank fail?
Barbary Coast National Bank was closed by regulators on May 19, 1994.
Who acquired Barbary Coast National Bank?
The FDIC record names Metropolitan Bank as the acquiring institution in the resolution of Barbary Coast National Bank.
How big was Barbary Coast National Bank when it failed?
Barbary Coast National Bank had approximately $10.7M in total assets and $9.3M in deposits at the time of failure.
Other failures in 1994
| Date | Bank | Assets |
|---|---|---|
| Dec 16, 1994 | Cornerstone Bank FSB | $44.3M |
| Oct 21, 1994 | Ludlow Savings Bank | $222.7M |
| Aug 26, 1994 | Capital Bank | $76.9M |
| Aug 12, 1994 | Bank of Newport | $167.8M |
| Jul 29, 1994 | Commerce Bank | $142.3M |
| Jul 29, 1994 | Western Community Bank | $54.0M |
| Jul 15, 1994 | Bank of San Pedro | $132.6M |
| Jul 8, 1994 | Pioneer Bank | $133.2M |
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