FDIC Open-Bank Assistance
First Security S&LA
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Assistance provided November 21, 1986 · Grand Junction, CO · FDIC Cert #32105.
- Assistance date
- November 21, 1986
- Headquarters
- Grand Junction, CO
- FDIC Certificate
- 32105
- Total assets at the time
- $55.2M
- Total deposits at the time
- $52.1M
- Estimated loss to the insurance fund
- Not published (the FDIC feed carries no estimate for this transaction)
- Insurance fund
- Federal Savings and Loan Insurance Corporation (FSLIC)
- Resolution
- Open-bank assistance (the institution stayed open)
- Acquirer
- Great American First Saving
Context
On November 21, 1986, the FDIC provided open-bank assistance to First Security S&LA, headquartered in Grand Junction, CO. The institution continued operating. At the time it held approximately $55.2M in assets and $52.1M in deposits. The FDIC record names Great American First Saving as the acquiring institution in the assisted transaction.
The FDIC record for 1986 holds 162 failures and 42 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 Security S&LA?
First Security S&LA received FDIC open-bank assistance on November 21, 1986; it did not fail.
How big was First Security S&LA at the time of assistance?
First Security S&LA had approximately $55.2M in total assets and $52.1M in deposits at the time of assistance.
Bank failures in 1986
| Date | Bank | Assets |
|---|---|---|
| Dec 19, 1986 | Lakeland State Bank | $49.4M |
| Dec 19, 1986 | Farmers State Bank | $9.7M |
| Dec 18, 1986 | First Bank & Trust Co. | $94.9M |
| Dec 18, 1986 | Landmark National Bank | $12.9M |
| Dec 18, 1986 | Lago Vista National Bank | $11.9M |
| Dec 12, 1986 | Guaranty Federal Bank FSB | $63.8M |
| Dec 12, 1986 | First Savings of America | $47.0M |
| Dec 9, 1986 | The Citizens Bank of Windsor | $24.8M |
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