FDIC Open-Bank Assistance
First Pennsylvania BK, N.A.
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Assistance provided April 28, 1980 · Philadelphia, PA · FDIC Cert #719.
- Assistance date
- April 28, 1980
- Headquarters
- Philadelphia, PA
- FDIC Certificate
- 719
- Total assets at the time
- $7.95B
- Total deposits at the time
- $5.00B
- Estimated loss to the insurance fund
- Not published (the FDIC feed carries no estimate for this transaction)
- Insurance fund
- FDIC insurance fund
- Resolution
- Open-bank assistance (the institution stayed open)
- Acquirer
- First Pennsylvania BK, N.A.
Context
On April 28, 1980, the FDIC provided open-bank assistance to First Pennsylvania BK, N.A., headquartered in Philadelphia, PA. The institution continued operating. At the time it held approximately $7.95B in assets and $5.00B in deposits. The assistance went to the bank itself; no other institution acquired it.
The FDIC record for 1980 holds 10 failures and 12 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 Pennsylvania BK, N.A.?
First Pennsylvania BK, N.A. received FDIC open-bank assistance on April 28, 1980; it did not fail.
How big was First Pennsylvania BK, N.A. at the time of assistance?
First Pennsylvania BK, N.A. had approximately $7.95B in total assets and $5.00B in deposits at the time of assistance.
Bank failures in 1980
| Date | Bank | Assets |
|---|---|---|
| Dec 31, 1980 | East Gadsden Bank | $44.0M |
| Nov 21, 1980 | Citizens State BK of Galena | $10.3M |
| Oct 11, 1980 | The Rochelle BK & TR Co. | $8.4M |
| Sep 12, 1980 | The Metro BK of Huntington, Inc. | $27.0M |
| Aug 8, 1980 | The Mission State BK & TR Co. | $86.4M |
| Jun 28, 1980 | City & County BK of Campbell CTY | $39.8M |
| Jun 4, 1980 | The Citizens State Bank | $2.0M |
| Feb 16, 1980 | Mohawk BK & TR Co. | $5.9M |
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