Bank Failure
First American Banking Company
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Closed November 16, 1984 · Pendleton, OR · FDIC Cert #21016.
- Closing date
- November 16, 1984
- Headquarters
- Pendleton, OR
- FDIC Certificate
- 21016
- Total assets at closing
- $18.6M
- Total deposits at closing
- $15.3M
- Estimated loss to the insurance fund
- $2.2M
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
- Acquirer
- Inland Empire Bank
Context
On November 16, 1984, regulators closed First American Banking Company, headquartered in Pendleton, OR. At closing, the institution held approximately $18.6M in assets and $15.3M in deposits. The FDIC record names Inland Empire Bank as the acquiring institution in the resolution. The estimated cost to the FDIC insurance fund was approximately $2.2M.
By assets at closing this is the 2395th largest of the 3,526 bank failures in the FDIC record, and the 48th of 83 in 1984. 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 First American Banking Company fail?
First American Banking Company was closed by regulators on November 16, 1984.
Who acquired First American Banking Company?
The FDIC record names Inland Empire Bank as the acquiring institution in the resolution of First American Banking Company.
How big was First American Banking Company when it failed?
First American Banking Company had approximately $18.6M in total assets and $15.3M in deposits at the time of failure.
Other 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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