Bank Failure
Community FS & La
BankRegReports is independent of Community FS & La and never asks for online banking logins or passwords.
Closed December 14, 1990 · St. Louis, MO · FDIC Cert #28809.
- Closing date
- December 14, 1990
- Headquarters
- St. Louis, MO
- FDIC Certificate
- 28809
- Total assets at closing
- $1.98B
- Total deposits at closing
- $2.28B
- Estimated loss to the insurance fund
- $305.9M
- Insurance fund
- Resolution Trust Corporation (RTC)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Boatmen's Bancshares, Inc.
Context
On December 14, 1990, regulators closed Community FS & La, headquartered in St. Louis, MO. At closing, the institution held approximately $1.98B in assets and $2.28B in deposits. The FDIC record names Boatmen's Bancshares, Inc. as the acquiring institution in the resolution. The estimated cost to the Resolution Trust Corporation (RTC) was approximately $305.9M.
By assets at closing this is the 110th largest of the 3,526 bank failures in the FDIC record, and the 17th 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 Community FS & La fail?
Community FS & La was closed by regulators on December 14, 1990.
Who acquired Community FS & La?
The FDIC record names Boatmen's Bancshares, Inc. as the acquiring institution in the resolution of Community FS & La.
How big was Community FS & La when it failed?
Community FS & La had approximately $1.98B in total assets and $2.28B 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 | Comfed Savings Bank | $1.40B |
| Dec 14, 1990 | Olympic Federal Savings | $1.05B |
Explore: all failures · MO bank events · 1990 events · events hub