FDIC Open-Bank Assistance

Century Sa

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Assistance provided June 26, 1985 · Shawnee MSN, KS · FDIC Cert #31940.

Assistance date: June 26, 1985
Headquarters: Shawnee MSN, KS
FDIC Certificate: 31940
Total assets at the time: $91.8M
Total deposits at the time: $45.0M
Estimated loss to the insurance fund: $16.2M
Insurance fund: Federal Savings and Loan Insurance Corporation (FSLIC)
Resolution: Open-bank assistance (the institution stayed open)
Acquirer: Household Bank FSB

Context

On June 26, 1985, the FDIC provided open-bank assistance to Century Sa, headquartered in Shawnee MSN, KS. The institution continued operating. At the time it held approximately $91.8M in assets and $45.0M in deposits. The FDIC record names Household Bank FSB as the acquiring institution in the assisted transaction. The estimated cost to the Federal Savings and Loan Insurance Corporation (FSLIC) was approximately $16.2M.

The FDIC record for 1985 holds 139 failures and 41 open-bank assistance transactions. 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, in nominal dollars, and can differ from the balance on the closing day.

Common questions

When did the FDIC provide assistance to Century Sa?

Century Sa received FDIC open-bank assistance on June 26, 1985; it did not fail.

How big was Century Sa at the time of assistance?

Century Sa had approximately $91.8M in total assets and $45.0M in deposits at the time of assistance.

Bank failures in 1985

Date	Bank	HQ	Assets
Dec 20, 1985	First City Bank	Glendale, CA	$35.8M
Dec 20, 1985	State Bank of Frost	Frost, MN	$7.7M
Dec 19, 1985	Princeton State Bank	Princeton, MO	$18.4M
Dec 19, 1985	Farmers State Bank	Sargent, NE	$12.5M
Dec 19, 1985	Bank of Panama	Panama, NE	$4.4M
Dec 19, 1985	Farmers & Merchants Bank	Comstock, NE	$3.3M
Dec 13, 1985	The First National Bank in Lincoln County	Ruidoso, NM	$32.0M
Dec 13, 1985	Lake National Bank	Lake Ozark, MO	$19.8M

All 1985 events ›

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