Bank Failure
Birmingham FSB
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Closed August 21, 1992 · Birmingham, AL · FDIC Cert #28078.
- Closing date
- August 21, 1992
- Headquarters
- Birmingham, AL
- FDIC Certificate
- 28078
- Total assets at closing
- $91.8M
- Total deposits at closing
- $82.1M
- Estimated loss to the insurance fund
- $3.4M
- Insurance fund
- Resolution Trust Corporation (RTC)
- Resolution
- Failure (closed by regulators)
- Acquirer
- First Commercial Bank
Context
On August 21, 1992, regulators closed Birmingham FSB, headquartered in Birmingham, AL. At closing, the institution held approximately $91.8M in assets and $82.1M in deposits. The FDIC record names First Commercial Bank as the acquiring institution in the resolution. The estimated cost to the Resolution Trust Corporation (RTC) was approximately $3.4M.
By assets at closing this is the 1257th largest of the 3,526 bank failures in the FDIC record, and the 93rd of 179 in 1992. 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 Birmingham FSB fail?
Birmingham FSB was closed by regulators on August 21, 1992.
Who acquired Birmingham FSB?
The FDIC record names First Commercial Bank as the acquiring institution in the resolution of Birmingham FSB.
How big was Birmingham FSB when it failed?
Birmingham FSB had approximately $91.8M in total assets and $82.1M in deposits at the time of failure.
Other failures in 1992
| Date | Bank | Assets |
|---|---|---|
| Dec 18, 1992 | The Rushville National Bank | $41.6M |
| Dec 18, 1992 | The Bremen State Bank | $2.7M |
| Dec 11, 1992 | Meritor Savings Bank | $4.13B |
| Dec 11, 1992 | Eastland Savings Bank | $515.3M |
| Dec 11, 1992 | Eastland Bank | $85.4M |
| Dec 11, 1992 | Sailors & Merchants B&T Co. | $34.8M |
| Dec 8, 1992 | Palm Beach FSA | $59.4M |
| Dec 4, 1992 | Carteret FSB | $4.83B |
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