Bank Failure
First Trust Bank
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Closed March 3, 1995 · Ontario, CA · FDIC Cert #3480.
- Closing date
- March 3, 1995
- Headquarters
- Ontario, CA
- FDIC Certificate
- 3480
- Total assets at closing
- $227.7M
- Total deposits at closing
- $223.6M
- Estimated loss to the insurance fund
- $25.6M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- First State Bank of Califor
Context
On March 3, 1995, regulators closed First Trust Bank, headquartered in Ontario, CA. At closing, the institution held approximately $227.7M in assets and $223.6M in deposits. The FDIC record names First State Bank of Califor as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $25.6M.
By assets at closing this is the 689th largest of the 3,526 bank failures in the FDIC record, and the 3rd of 8 in 1995. 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 Trust Bank fail?
First Trust Bank was closed by regulators on March 3, 1995.
Who acquired First Trust Bank?
The FDIC record names First State Bank of Califor as the acquiring institution in the resolution of First Trust Bank.
How big was First Trust Bank when it failed?
First Trust Bank had approximately $227.7M in total assets and $223.6M in deposits at the time of failure.
Other failures in 1995
| Date | Bank | Assets |
|---|---|---|
| Jul 28, 1995 | Pacific Heritage Bank | $147.7M |
| Jul 28, 1995 | Founders Bank | $77.4M |
| May 19, 1995 | Bank USA, N.A. | $9.0M |
| May 5, 1995 | American S & L Association | $64.4M |
| Apr 28, 1995 | Continental Savings of America | $359.4M |
| Mar 31, 1995 | Los Angeles Thrift and Loan Company | $23.4M |
| Jan 20, 1995 | Guardian Bank | $316.9M |
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