Bank Failure
Capitol Bank and Trust Company
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Closed December 28, 1990 · Boston, MA · FDIC Cert #19572.
- Closing date
- December 28, 1990
- Headquarters
- Boston, MA
- FDIC Certificate
- 19572
- Total assets at closing
- $485.6M
- Total deposits at closing
- $442.3M
- Estimated loss to the insurance fund
- $205.9M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
Context
On December 28, 1990, regulators closed Capitol Bank and Trust Company, headquartered in Boston, MA. At closing, the institution held approximately $485.6M in assets and $442.3M in deposits. The FDIC record does not name an acquiring institution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $205.9M.
By assets at closing this is the 386th largest of the 3,526 bank failures in the FDIC record, and the 48th 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 Capitol Bank and Trust Company fail?
Capitol Bank and Trust Company was closed by regulators on December 28, 1990.
How big was Capitol Bank and Trust Company when it failed?
Capitol Bank and Trust Company had approximately $485.6M in total assets and $442.3M in deposits at the time of failure.
Other failures in 1990
| Date | Bank | Assets |
|---|---|---|
| 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 |
| Dec 14, 1990 | Olympic Federal Savings | $1.05B |
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