Bank Failure
Financial Federal Sa
BankRegReports is independent of Financial Federal Sa and never asks for online banking logins or passwords.
Closed April 6, 1989 · Joplin, MO · FDIC Cert #29458.
- Closing date
- April 6, 1989
- Headquarters
- Joplin, MO
- FDIC Certificate
- 29458
- Total assets at closing
- $161.4M
- Total deposits at closing
- $173.1M
- Estimated loss to the insurance fund
- $44.8M
- Insurance fund
- Resolution Trust Corporation (RTC)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Farm & Home Sa
Context
On April 6, 1989, regulators closed Financial Federal Sa, headquartered in Joplin, MO. At closing, the institution held approximately $161.4M in assets and $173.1M in deposits. The FDIC record names Farm & Home Sa as the acquiring institution in the resolution. The estimated cost to the Resolution Trust Corporation (RTC) was approximately $44.8M.
By assets at closing this is the 895th largest of the 3,526 bank failures in the FDIC record, and the 156th of 530 in 1989. 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 Financial Federal Sa fail?
Financial Federal Sa was closed by regulators on April 6, 1989.
Who acquired Financial Federal Sa?
The FDIC record names Farm & Home Sa as the acquiring institution in the resolution of Financial Federal Sa.
How big was Financial Federal Sa when it failed?
Financial Federal Sa had approximately $161.4M in total assets and $173.1M in deposits at the time of failure.
Other failures in 1989
| Date | Bank | Assets |
|---|---|---|
| Dec 21, 1989 | Columbia FSA | $77.1M |
| Dec 21, 1989 | Silver Savings Assoc. | $32.2M |
| Dec 20, 1989 | First City National Bank and Trust | $39.5M |
| Dec 20, 1989 | United Community Bank | $32.3M |
| Dec 15, 1989 | First American Bank and Trust | $1.38B |
| Dec 14, 1989 | Yorkridge-Calvert Federal Savings | $585.8M |
| Dec 14, 1989 | Louisiana Savings Assn. | $449.3M |
| Dec 14, 1989 | First Acadiana Bank | $46.8M |
Explore: all failures · MO bank events · 1989 events · events hub