FDIC Open-Bank Assistance
First FS&LA of Broward County
BankRegReports is independent of First FS&LA of Broward County and never asks for online banking logins or passwords.
Assistance provided November 19, 1981 · Ft. Lauderdale, FL · FDIC Cert #28967.
- Assistance date
- November 19, 1981
- Headquarters
- Ft. Lauderdale, FL
- FDIC Certificate
- 28967
- Total assets at the time
- $2.55B
- Total deposits at the time
- $1.93B
- Estimated loss to the insurance fund
- -$253K
- Insurance fund
- Federal Savings and Loan Insurance Corporation (FSLIC)
- Resolution
- Open-bank assistance (the institution stayed open)
- Acquirer
- Glendale FS&LA
Context
On November 19, 1981, the FDIC provided open-bank assistance to First FS&LA of Broward County, headquartered in Ft. Lauderdale, FL. The institution continued operating. At the time it held approximately $2.55B in assets and $1.93B in deposits. The FDIC record names Glendale FS&LA as the acquiring institution in the assisted transaction. The estimated cost to the Federal Savings and Loan Insurance Corporation (FSLIC) was approximately -$253K.
The FDIC record for 1981 holds 9 failures and 31 open-bank assistance transactions. 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 the FDIC provide assistance to First FS&LA of Broward County?
First FS&LA of Broward County received FDIC open-bank assistance on November 19, 1981; it did not fail.
How big was First FS&LA of Broward County at the time of assistance?
First FS&LA of Broward County had approximately $2.55B in total assets and $1.93B in deposits at the time of assistance.
Bank failures in 1981
| Date | Bank | Assets |
|---|---|---|
| Oct 30, 1981 | Midtown National Bank | $10.6M |
| Oct 23, 1981 | High Lakes Community Bank | $3.7M |
| Sep 25, 1981 | Southwestern Bank | $5.3M |
| Sep 8, 1981 | First FS&LA of Rochester | $1.20B |
| Jun 19, 1981 | Northwest Commerce Bank | $6.7M |
| May 18, 1981 | Economy S&LA | $73.9M |
| Mar 17, 1981 | Peoples Banking Company | $8.4M |
| Mar 14, 1981 | The Des Plaines Bank | $46.5M |
Explore: all failures · FL bank events · 1981 events · events hub