Bank Failure
FIRST AMERICAN BANK AND TRUST
Closed December 15, 1989 · NORTH PALM BEACH , FL · FDIC Cert #18002 .
- Closing date
- December 15, 1989
- Headquarters
- NORTH PALM BEACH , FL
- FDIC Certificate
- 18002
- Total assets at closing
- $1.38B
- Total deposits at closing
- $1.01B
- Estimated loss to DIF
- $383.1M
- Resolution type
- other
- Acquirer
- FIRST AMERICAN BANK AND TRU (FDIC Cert #4137)
Context
On December 15, 1989, regulators closed FIRST AMERICAN BANK AND TRUST , headquartered in NORTH PALM BEACH , FL . At closing, the institution held approximately $1.38B in assets and $1.01B in deposits . The FDIC arranged a resolution under which FIRST AMERICAN BANK AND TRU acquired the failed bank's operations. The estimated cost to the FDIC Deposit Insurance Fund was approximately $383.1M.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Other failures in 1989
| Date | Bank | HQ | Assets |
|---|---|---|---|
| 1989-12-21 | COLUMBIA FSA | NASSAU BAY , TX | $77.1M |
| 1989-12-21 | SILVER SAVINGS ASSOC. | SILVER CITY , NM | $32.2M |
| 1989-12-20 | FIRST CITY NATIONAL BANK AND TRUST | NEW YORK , NY | $39.5M |
| 1989-12-20 | UNITED COMMUNITY BANK | WESTLAKE VILLAGE , CA | $32.3M |
| 1989-12-14 | YORKRIDGE-CALVERT FEDERAL SAVINGS | BALTIMORE , MD | $585.8M |
| 1989-12-14 | LOUISIANA SAVINGS ASSN. | LAKE CHARLES , LA | $449.3M |
| 1989-12-14 | FIRST ACADIANA BANK | EUNICE , LA | $46.8M |
| 1989-12-14 | CANYON LAKE BANK | CANYON LAKE , TX | $31.0M |
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