Bank Failure
Centre Sa, F.A.
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Closed August 16, 1991 · Arlington, TX · FDIC Cert #32252.
- Closing date
- August 16, 1991
- Headquarters
- Arlington, TX
- FDIC Certificate
- 32252
- Total assets at closing
- $15.2M
- Total deposits at closing
- $15.6M
- Estimated loss to the insurance fund
- $4.7M
- Insurance fund
- Resolution Trust Corporation (RTC)
- Resolution
- Failure (closed by regulators)
- Acquirer
- American FB, FSB
Context
On August 16, 1991, regulators closed Centre Sa, F.A., headquartered in Arlington, TX. At closing, the institution held approximately $15.2M in assets and $15.6M in deposits. The FDIC record names American FB, FSB as the acquiring institution in the resolution. The estimated cost to the Resolution Trust Corporation (RTC) was approximately $4.7M.
By assets at closing this is the 2529th largest of the 3,526 bank failures in the FDIC record, and the 254th of 268 in 1991. 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 Centre Sa, F.A. fail?
Centre Sa, F.A. was closed by regulators on August 16, 1991.
Who acquired Centre Sa, F.A.?
The FDIC record names American FB, FSB as the acquiring institution in the resolution of Centre Sa, F.A.
How big was Centre Sa, F.A. when it failed?
Centre Sa, F.A. had approximately $15.2M in total assets and $15.6M in deposits at the time of failure.
Other failures in 1991
| Date | Bank | Assets |
|---|---|---|
| Dec 20, 1991 | North Ridge Bank | $94.3M |
| Dec 13, 1991 | Investors FSB | $2.06B |
| Dec 13, 1991 | The Bank Mart | $578.2M |
| Dec 13, 1991 | Merchants National Bank | $153.6M |
| Dec 13, 1991 | Bank of East Hartford | $36.6M |
| Dec 13, 1991 | Federal Finance & Mortgage, LTD | $7.7M |
| Dec 12, 1991 | Granite Co-Operative Bank | $103.8M |
| Dec 6, 1991 | Saybrook Bank and Trust Company | $77.3M |
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