Bank Failure
Dollar DRY Dock Bank
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Closed February 21, 1992 · White Plains, NY · FDIC Cert #15897.
- Closing date
- February 21, 1992
- Headquarters
- White Plains, NY
- FDIC Certificate
- 15897
- Total assets at closing
- $4.03B
- Total deposits at closing
- $3.73B
- Estimated loss to the insurance fund
- $309.1M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Emigrant Savings Bank
Context
On February 21, 1992, regulators closed Dollar DRY Dock Bank, headquartered in White Plains, NY. At closing, the institution held approximately $4.03B in assets and $3.73B in deposits. The FDIC record names Emigrant Savings Bank as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $309.1M.
By assets at closing this is the 52nd largest of the 3,526 bank failures in the FDIC record, and the 5th of 179 in 1992. 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 Dollar DRY Dock Bank fail?
Dollar DRY Dock Bank was closed by regulators on February 21, 1992.
Who acquired Dollar DRY Dock Bank?
The FDIC record names Emigrant Savings Bank as the acquiring institution in the resolution of Dollar DRY Dock Bank.
How big was Dollar DRY Dock Bank when it failed?
Dollar DRY Dock Bank had approximately $4.03B in total assets and $3.73B in deposits at the time of failure.
Other failures in 1992
| Date | Bank | Assets |
|---|---|---|
| Dec 18, 1992 | The Rushville National Bank | $41.6M |
| Dec 18, 1992 | The Bremen State Bank | $2.7M |
| Dec 11, 1992 | Meritor Savings Bank | $4.13B |
| Dec 11, 1992 | Eastland Savings Bank | $515.3M |
| Dec 11, 1992 | Eastland Bank | $85.4M |
| Dec 11, 1992 | Sailors & Merchants B&T Co. | $34.8M |
| Dec 8, 1992 | Palm Beach FSA | $59.4M |
| Dec 4, 1992 | Carteret FSB | $4.83B |
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