Bank Failure
Clyde FS & La
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Closed February 2, 1990 · North Riverside, IL · FDIC Cert #29470.
- Closing date
- February 2, 1990
- Headquarters
- North Riverside, IL
- FDIC Certificate
- 29470
- Total assets at closing
- $574.7M
- Total deposits at closing
- $563.7M
- Estimated loss to the insurance fund
- $54.3M
- Insurance fund
- Resolution Trust Corporation (RTC)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Mid-City NB of Chicago
Context
On February 2, 1990, regulators closed Clyde FS & La, headquartered in North Riverside, IL. At closing, the institution held approximately $574.7M in assets and $563.7M in deposits. The FDIC record names Mid-City NB of Chicago as the acquiring institution in the resolution. The estimated cost to the Resolution Trust Corporation (RTC) was approximately $54.3M.
By assets at closing this is the 337th largest of the 3,526 bank failures in the FDIC record, and the 42nd 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 Clyde FS & La fail?
Clyde FS & La was closed by regulators on February 2, 1990.
Who acquired Clyde FS & La?
The FDIC record names Mid-City NB of Chicago as the acquiring institution in the resolution of Clyde FS & La.
How big was Clyde FS & La when it failed?
Clyde FS & La had approximately $574.7M in total assets and $563.7M 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 |
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