Bank Failure
Bergen Park National Bank
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Closed April 20, 1990 · Evergreen, CO · FDIC Cert #25831.
- Closing date
- April 20, 1990
- Headquarters
- Evergreen, CO
- FDIC Certificate
- 25831
- Total assets at closing
- $5.8M
- Total deposits at closing
- $5.9M
- Estimated loss to the insurance fund
- $1.1M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Nederland National Bank
Context
On April 20, 1990, regulators closed Bergen Park National Bank, headquartered in Evergreen, CO. At closing, the institution held approximately $5.8M in assets and $5.9M in deposits. The FDIC record names Nederland National Bank as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $1.1M.
By assets at closing this is the 2965th largest of the 3,526 bank failures in the FDIC record, and the 378th of 381 in 1990. 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 Bergen Park National Bank fail?
Bergen Park National Bank was closed by regulators on April 20, 1990.
Who acquired Bergen Park National Bank?
The FDIC record names Nederland National Bank as the acquiring institution in the resolution of Bergen Park National Bank.
How big was Bergen Park National Bank when it failed?
Bergen Park National Bank had approximately $5.8M in total assets and $5.9M in deposits at the time of failure.
Other failures in 1990
| Date | Bank | Assets |
|---|---|---|
| Dec 28, 1990 | Capitol Bank and Trust Company | $485.6M |
| Dec 28, 1990 | Southern FS | $230.8M |
| Dec 28, 1990 | First FS & La of Andalusia | $38.7M |
| Dec 27, 1990 | Enterprise Savings Bank, F.A. | $432.6M |
| Dec 21, 1990 | Arkansas FSB | $71.7M |
| Dec 15, 1990 | Mid-America FS & La | $1.21B |
| Dec 14, 1990 | Community FS & La | $1.98B |
| Dec 14, 1990 | Comfed Savings Bank | $1.40B |
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