Bank Failure
FAR WEST FSB
Closed May 23, 1991 · PORTLAND , OR · FDIC Cert #29202 .
- Closing date
- May 23, 1991
- Headquarters
- PORTLAND , OR
- FDIC Certificate
- 29202
- Total assets at closing
- $2.07B
- Total deposits at closing
- $1.29B
- Estimated loss to DIF
- $313.6M
- Resolution type
- other
- Acquirer
- BRANCH SALE (FDIC Cert #1263)
Context
On May 23, 1991, regulators closed FAR WEST FSB , headquartered in PORTLAND , OR . At closing, the institution held approximately $2.07B in assets and $1.29B in deposits . The FDIC arranged a resolution under which BRANCH SALE acquired the failed bank's operations. The estimated cost to the FDIC Deposit Insurance Fund was approximately $313.6M.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Other failures in 1991
| Date | Bank | HQ | Assets |
|---|---|---|---|
| 1991-12-20 | NORTH RIDGE BANK | OAKLAND PARK , FL | $94.3M |
| 1991-12-13 | INVESTORS FSB | RICHMOND , VA | $2.06B |
| 1991-12-13 | THE BANK MART | BRIDGEPORT , CT | $578.2M |
| 1991-12-13 | MERCHANTS NATIONAL BANK | LEOMINSTER , MA | $153.6M |
| 1991-12-13 | BANK OF EAST HARTFORD | EAST HARTFORD , CT | $36.6M |
| 1991-12-13 | FEDERAL FINANCE & MORTGAGE, LTD | HONOLULU , HI | $7.7M |
| 1991-12-12 | GRANITE CO-OPERATIVE BANK | QUINCY , MA | $103.8M |
| 1991-12-06 | SAYBROOK BANK AND TRUST COMPANY | OLD SAYBROOK , CT | $77.3M |
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