Bank Failure
First Federal Savings & Loan
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Closed January 4, 1991 · San Antonio, TX · FDIC Cert #29638.
- Closing date
- January 4, 1991
- Headquarters
- San Antonio, TX
- FDIC Certificate
- 29638
- Total assets at closing
- $638.6M
- Total deposits at closing
- $472.4M
- Estimated loss to the insurance fund
- $37.7M
- Insurance fund
- Resolution Trust Corporation (RTC)
- Resolution
- Failure (closed by regulators)
- Acquirer
- First FSB
Context
On January 4, 1991, regulators closed First Federal Savings & Loan, headquartered in San Antonio, TX. At closing, the institution held approximately $638.6M in assets and $472.4M in deposits. The FDIC record names First FSB as the acquiring institution in the resolution. The estimated cost to the Resolution Trust Corporation (RTC) was approximately $37.7M.
By assets at closing this is the 309th largest of the 3,526 bank failures in the FDIC record, and the 46th of 268 in 1991. 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 Federal Savings & Loan fail?
First Federal Savings & Loan was closed by regulators on January 4, 1991.
Who acquired First Federal Savings & Loan?
The FDIC record names First FSB as the acquiring institution in the resolution of First Federal Savings & Loan.
How big was First Federal Savings & Loan when it failed?
First Federal Savings & Loan had approximately $638.6M in total assets and $472.4M in deposits at the time of failure.
Other failures in 1991
| Date | Bank | Assets |
|---|---|---|
| Dec 20, 1991 | North Ridge Bank | $94.3M |
| Dec 13, 1991 | Investors FSB | $2.06B |
| Dec 13, 1991 | The Bank Mart | $578.2M |
| Dec 13, 1991 | Merchants National Bank | $153.6M |
| Dec 13, 1991 | Bank of East Hartford | $36.6M |
| Dec 13, 1991 | Federal Finance & Mortgage, LTD | $7.7M |
| Dec 12, 1991 | Granite Co-Operative Bank | $103.8M |
| Dec 6, 1991 | Saybrook Bank and Trust Company | $77.3M |
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