FDIC Open-Bank Assistance
Continental Illinois Nat BK & TR
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Assistance provided May 17, 1984 · Chicago, IL · FDIC Cert #3622.
- Assistance date
- May 17, 1984
- Headquarters
- Chicago, IL
- FDIC Certificate
- 3622
- Total assets at the time
- $39.96B
- Total deposits at the time
- $28.59B
- Estimated loss to the insurance fund
- $1.11B
- Insurance fund
- FDIC insurance fund
- Resolution
- Open-bank assistance (the institution stayed open)
- Acquirer
- Continental Illinois Nat BK
Context
On May 17, 1984, the FDIC provided open-bank assistance to Continental Illinois Nat BK & TR, headquartered in Chicago, IL. The institution continued operating. At the time it held approximately $39.96B in assets and $28.59B in deposits. The assistance went to the bank itself; no other institution acquired it. The estimated cost to the FDIC insurance fund was approximately $1.11B.
The FDIC record for 1984 holds 83 failures and 23 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.
Common questions
When did the FDIC provide assistance to Continental Illinois Nat BK & TR?
Continental Illinois Nat BK & TR received FDIC open-bank assistance on May 17, 1984; it did not fail.
How big was Continental Illinois Nat BK & TR at the time of assistance?
Continental Illinois Nat BK & TR had approximately $39.96B in total assets and $28.59B in deposits at the time of assistance.
Bank failures in 1984
| Date | Bank | Assets |
|---|---|---|
| Dec 22, 1984 | First Security Bank | $13.4M |
| Dec 20, 1984 | The Farmers State Bank | $14.6M |
| Dec 18, 1984 | Uehling State Bank | $4.2M |
| Dec 11, 1984 | University Bank of Wichita | $4.7M |
| Dec 7, 1984 | San Marino S&LA | $856.8M |
| Dec 7, 1984 | Farmers State BK of Holyoke | $3.9M |
| Dec 4, 1984 | Golden Spike State Bank | $7.8M |
| Nov 30, 1984 | The Dayton BK & TR Co. | $51.4M |
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