Bank Failure
FIRST NETWORK SAVINGS BANK
Closed April 20, 1990 · LOS ANGELES , CA · FDIC Cert #32187 .
- Closing date
- April 20, 1990
- Headquarters
- LOS ANGELES , CA
- FDIC Certificate
- 32187
- Total assets at closing
- $303.8M
- Total deposits at closing
- $393.6M
- Estimated loss to DIF
- $186.1M
- Resolution type
- other
- Acquirer
- PAYOUT (FDIC Cert #7177)
Context
On April 20, 1990, regulators closed FIRST NETWORK SAVINGS BANK , headquartered in LOS ANGELES , CA . At closing, the institution held approximately $303.8M in assets and $393.6M in deposits . The FDIC arranged a resolution under which PAYOUT acquired the failed bank's operations. The estimated cost to the FDIC Deposit Insurance Fund was approximately $186.1M.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Other failures in 1990
| Date | Bank | HQ | Assets |
|---|---|---|---|
| 1990-12-28 | CAPITOL BANK AND TRUST COMPANY | BOSTON , MA | $485.6M |
| 1990-12-28 | SOUTHERN FS | NEW ORLEANS , LA | $230.8M |
| 1990-12-28 | FIRST FS & LA OF ANDALUSIA | ANDALUSIA , AL | $38.7M |
| 1990-12-27 | ENTERPRISE SAVINGS BANK, FA | CHICAGO , IL | $432.6M |
| 1990-12-21 | ARKANSAS FSB | LITTLE ROCK , AR | $71.7M |
| 1990-12-15 | MID-AMERICA FS & LA | COLUMBUS , OH | $1.21B |
| 1990-12-14 | COMMUNITY FS & LA | ST. LOUIS , MO | $1.98B |
| 1990-12-14 | COMFED SAVINGS BANK | LOWELL , MA | $1.40B |
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