Bank Failure

First Enterprise Bank

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Closed April 26, 1985 · Oakland, CA · FDIC Cert #20708.

Closing date: April 26, 1985
Headquarters: Oakland, CA
FDIC Certificate: 20708
Total assets (last filing before closing): $43.8M
Total deposits (last filing before closing): $43.0M
Estimated loss to the insurance fund: Not published (the FDIC feed carries no estimate for this failure)
Insurance fund: FDIC insurance fund
Resolution: Failure (closed by regulators)

Context

On April 26, 1985, regulators closed First Enterprise Bank, headquartered in Oakland, CA. At closing, the institution held approximately $43.8M in assets and $43.0M in deposits. The FDIC record does not name an acquiring institution.

By total assets in its last filing before closing, this is the 1752nd largest of the 3,526 bank failures in the FDIC record, and the 34th of 139 in 1985. 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, in nominal dollars, and can differ from the balance on the closing day.

Common questions

When did First Enterprise Bank fail?

First Enterprise Bank was closed by regulators on April 26, 1985.

How big was First Enterprise Bank when it failed?

First Enterprise Bank had approximately $43.8M in total assets and $43.0M in deposits at the time of failure.

Other failures in 1985

Date	Bank	HQ	Assets
Dec 20, 1985	First City Bank	Glendale, CA	$35.8M
Dec 20, 1985	State Bank of Frost	Frost, MN	$7.7M
Dec 19, 1985	Princeton State Bank	Princeton, MO	$18.4M
Dec 19, 1985	Farmers State Bank	Sargent, NE	$12.5M
Dec 19, 1985	Bank of Panama	Panama, NE	$4.4M
Dec 19, 1985	Farmers & Merchants Bank	Comstock, NE	$3.3M
Dec 13, 1985	The First National Bank in Lincoln County	Ruidoso, NM	$32.0M
Dec 13, 1985	Lake National Bank	Lake Ozark, MO	$19.8M

All 1985 events ›

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