Bank Failure
First Exchange Bank North St. Louis
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Closed May 7, 1992 · Florissant, MO · FDIC Cert #32742.
- Closing date
- May 7, 1992
- Headquarters
- Florissant, MO
- FDIC Certificate
- 32742
- Total assets at closing
- $45.9M
- Total deposits at closing
- $47.0M
- Estimated loss to the insurance fund
- Not available (the FDIC feed's figure of $0 is not consistent with a failure of this size)
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- First Bank a Savings Ban
Context
On May 7, 1992, regulators closed First Exchange Bank North St. Louis, headquartered in Florissant, MO. At closing, the institution held approximately $45.9M in assets and $47.0M in deposits. The FDIC record names First Bank a Savings Ban as the acquiring institution in the resolution.
By assets at closing this is the 1724th largest of the 3,526 bank failures in the FDIC record, and the 123rd of 179 in 1992. 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 Exchange Bank North St. Louis fail?
First Exchange Bank North St. Louis was closed by regulators on May 7, 1992.
Who acquired First Exchange Bank North St. Louis?
The FDIC record names First Bank a Savings Ban as the acquiring institution in the resolution of First Exchange Bank North St. Louis.
How big was First Exchange Bank North St. Louis when it failed?
First Exchange Bank North St. Louis had approximately $45.9M in total assets and $47.0M in deposits at the time of failure.
Other failures in 1992
| Date | Bank | Assets |
|---|---|---|
| Dec 18, 1992 | The Rushville National Bank | $41.6M |
| Dec 18, 1992 | The Bremen State Bank | $2.7M |
| Dec 11, 1992 | Meritor Savings Bank | $4.13B |
| Dec 11, 1992 | Eastland Savings Bank | $515.3M |
| Dec 11, 1992 | Eastland Bank | $85.4M |
| Dec 11, 1992 | Sailors & Merchants B&T Co. | $34.8M |
| Dec 8, 1992 | Palm Beach FSA | $59.4M |
| Dec 4, 1992 | Carteret FSB | $4.83B |
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