Bank Failure

First Fed. Savings Assoc. of York

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Closed January 18, 1990 · York, NE · FDIC Cert #30855.

Closing date: January 18, 1990
Headquarters: York, NE
FDIC Certificate: 30855
Total assets at closing: $59.7M
Total deposits at closing: $54.9M
Estimated loss to the insurance fund: $2.8M
Insurance fund: Resolution Trust Corporation (RTC)
Resolution: Failure (closed by regulators)
Acquirer: First Trust Company of York

Context

On January 18, 1990, regulators closed First Fed. Savings Assoc. of York, headquartered in York, NE. At closing, the institution held approximately $59.7M in assets and $54.9M in deposits. The FDIC record names First Trust Company of York as the acquiring institution in the resolution. The estimated cost to the Resolution Trust Corporation (RTC) was approximately $2.8M.

By assets at closing this is the 1531st largest of the 3,526 bank failures in the FDIC record, and the 199th of 381 in 1990. 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 Fed. Savings Assoc. of York fail?

First Fed. Savings Assoc. of York was closed by regulators on January 18, 1990.

Who acquired First Fed. Savings Assoc. of York?

The FDIC record names First Trust Company of York as the acquiring institution in the resolution of First Fed. Savings Assoc. of York.

How big was First Fed. Savings Assoc. of York when it failed?

First Fed. Savings Assoc. of York had approximately $59.7M in total assets and $54.9M in deposits at the time of failure.

Other failures in 1990

Date	Bank	HQ	Assets
Dec 28, 1990	Capitol Bank and Trust Company	Boston, MA	$485.6M
Dec 28, 1990	Southern FS	New Orleans, LA	$230.8M
Dec 28, 1990	First FS & La of Andalusia	Andalusia, AL	$38.7M
Dec 27, 1990	Enterprise Savings Bank, F.A.	Chicago, IL	$432.6M
Dec 21, 1990	Arkansas FSB	Little Rock, AR	$71.7M
Dec 15, 1990	Mid-America FS & La	Columbus, OH	$1.21B
Dec 14, 1990	Community FS & La	St. Louis, MO	$1.98B
Dec 14, 1990	Comfed Savings Bank	Lowell, MA	$1.40B

All 1990 events ›

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