Bank Failure
Frontier FS & La
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Closed February 23, 1990 · Walla Walla, WA · FDIC Cert #28488.
- Closing date
- February 23, 1990
- Headquarters
- Walla Walla, WA
- FDIC Certificate
- 28488
- Total assets at closing
- $146.9M
- Total deposits at closing
- $120.0M
- Estimated loss to the insurance fund
- Not available (the FDIC feed's figure of $9K is not consistent with a failure of this size)
- Insurance fund
- Resolution Trust Corporation (RTC)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Washington Mutual
Context
On February 23, 1990, regulators closed Frontier FS & La, headquartered in Walla Walla, WA. At closing, the institution held approximately $146.9M in assets and $120.0M in deposits. The FDIC record names Washington Mutual as the acquiring institution in the resolution.
By assets at closing this is the 957th largest of the 3,526 bank failures in the FDIC record, and the 122nd of 381 in 1990. 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 Frontier FS & La fail?
Frontier FS & La was closed by regulators on February 23, 1990.
Who acquired Frontier FS & La?
The FDIC record names Washington Mutual as the acquiring institution in the resolution of Frontier FS & La.
How big was Frontier FS & La when it failed?
Frontier FS & La had approximately $146.9M in total assets and $120.0M in deposits at the time of failure.
Other failures in 1990
| Date | Bank | Assets |
|---|---|---|
| Dec 28, 1990 | Capitol Bank and Trust Company | $485.6M |
| Dec 28, 1990 | Southern FS | $230.8M |
| Dec 28, 1990 | First FS & La of Andalusia | $38.7M |
| Dec 27, 1990 | Enterprise Savings Bank, F.A. | $432.6M |
| Dec 21, 1990 | Arkansas FSB | $71.7M |
| Dec 15, 1990 | Mid-America FS & La | $1.21B |
| Dec 14, 1990 | Community FS & La | $1.98B |
| Dec 14, 1990 | Comfed Savings Bank | $1.40B |
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