Bank Failure
First Home FSA
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Closed June 19, 1992 · Pittsburgh, PA · FDIC Cert #28250.
- Closing date
- June 19, 1992
- Headquarters
- Pittsburgh, PA
- FDIC Certificate
- 28250
- Total assets at closing
- $131.7M
- Total deposits at closing
- $129.3M
- Estimated loss to the insurance fund
- $463K
- Insurance fund
- Resolution Trust Corporation (RTC)
- Resolution
- Failure (closed by regulators)
- Acquirer
- First Home FSB, FSB
Context
On June 19, 1992, regulators closed First Home FSA, headquartered in Pittsburgh, PA. At closing, the institution held approximately $131.7M in assets and $129.3M in deposits. The FDIC record names First Home FSB, FSB as the acquiring institution in the resolution. The estimated cost to the Resolution Trust Corporation (RTC) was approximately $463K.
By assets at closing this is the 1034th largest of the 3,526 bank failures in the FDIC record, and the 77th 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 Home FSA fail?
First Home FSA was closed by regulators on June 19, 1992.
Who acquired First Home FSA?
The FDIC record names First Home FSB, FSB as the acquiring institution in the resolution of First Home FSA.
How big was First Home FSA when it failed?
First Home FSA had approximately $131.7M in total assets and $129.3M 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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