Bank Failure
BEACH FS&LA
Closed December 30, 1988 · BOYNTON BEACH, FL · FDIC Cert #32492.
- Closing date
- December 30, 1988
- Headquarters
- BOYNTON BEACH, FL
- FDIC Certificate
- 32492
- Total assets at closing
- $1,141,671,000
- Total deposits at closing
- $1,190,559,000
- Estimated loss to DIF
- $1,291,299,000
- Resolution type
- other
- Acquirer
- BEACH FS&LA (FDIC Cert #1785)
Context
On December 30, 1988, regulators closed BEACH FS&LA, headquartered in BOYNTON BEACH, FL. At closing, the institution held approximately $1,141,671,000 in assets and $1,190,559,000 in deposits. The FDIC arranged a resolution under which BEACH FS&LA acquired the failed bank's operations. The estimated cost to the FDIC Deposit Insurance Fund was approximately $1,291,299,000.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Other failures in 1988
| Date | Bank | HQ | Assets |
|---|---|---|---|
| 1988-12-31 | BROWARD FS&LA | SUNRISE, FL | $535,666,000 |
| 1988-12-31 | PEORIA S&LA | PEORIA, IL | $171,600,000 |
| 1988-12-30 | UNITED SAVINGS ASSOCIATION OF TEXAS | HOUSTON, TX | $4,644,939,000 |
| 1988-12-30 | COLUMBIA FS&LA | ENGLEWOOD, CO | $3,125,050,000 |
| 1988-12-30 | FIRST FS&LA OF JACKSONVILLE | JACKSONVILLE, FL | $1,243,932,000 |
| 1988-12-30 | PATHWAY FINANCIAL | CHICAGO, IL | $1,222,965,000 |
| 1988-12-30 | JACKSON COUNTY FSA | MEDFORD, OR | $266,123,000 |
| 1988-12-30 | TRACY-COLLINS BANK & TRUST COMPANY | SALT LAKE CITY, UT | $213,259,000 |
Explore: all failures · FL bank events · 1988 events · events hub