Bank Failure
Broken Arrow Savings Assoc.
BankRegReports is independent of Broken Arrow Savings Assoc. and never asks for online banking logins or passwords.
Closed August 24, 1990 · Broken Arrow, OK · FDIC Cert #29603.
- Closing date
- August 24, 1990
- Headquarters
- Broken Arrow, OK
- FDIC Certificate
- 29603
- Total assets at closing
- $26.9M
- Total deposits at closing
- $23.2M
- Estimated loss to the insurance fund
- $5.0M
- Insurance fund
- Resolution Trust Corporation (RTC)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Metro Bank of Broken Arrow
Context
On August 24, 1990, regulators closed Broken Arrow Savings Assoc., headquartered in Broken Arrow, OK. At closing, the institution held approximately $26.9M in assets and $23.2M in deposits. The FDIC record names Metro Bank of Broken Arrow as the acquiring institution in the resolution. The estimated cost to the Resolution Trust Corporation (RTC) was approximately $5.0M.
By assets at closing this is the 2123rd largest of the 3,526 bank failures in the FDIC record, and the 285th 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 Broken Arrow Savings Assoc. fail?
Broken Arrow Savings Assoc. was closed by regulators on August 24, 1990.
Who acquired Broken Arrow Savings Assoc.?
The FDIC record names Metro Bank of Broken Arrow as the acquiring institution in the resolution of Broken Arrow Savings Assoc.
How big was Broken Arrow Savings Assoc. when it failed?
Broken Arrow Savings Assoc. had approximately $26.9M in total assets and $23.2M 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 |
Explore: all failures · OK bank events · 1990 events · events hub