Bank Failure
Frontier Savings & Loan
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Closed August 31, 1988 · Ponca City, OK · FDIC Cert #30146.
- Closing date
- August 31, 1988
- Headquarters
- Ponca City, OK
- FDIC Certificate
- 30146
- Total assets at closing
- $1.03B
- Total deposits at closing
- $826.8M
- Estimated loss to the insurance fund
- $382.3M
- Insurance fund
- Federal Savings and Loan Insurance Corporation (FSLIC)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Commercial Fed BK a FSB
Context
On August 31, 1988, regulators closed Frontier Savings & Loan, headquartered in Ponca City, OK. At closing, the institution held approximately $1.03B in assets and $826.8M in deposits. The FDIC record names Commercial Fed BK a FSB as the acquiring institution in the resolution. The estimated cost to the Federal Savings and Loan Insurance Corporation (FSLIC) was approximately $382.3M.
By assets at closing this is the 204th largest of the 3,526 bank failures in the FDIC record, and the 7th of 232 in 1988. 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 Savings & Loan fail?
Frontier Savings & Loan was closed by regulators on August 31, 1988.
Who acquired Frontier Savings & Loan?
The FDIC record names Commercial Fed BK a FSB as the acquiring institution in the resolution of Frontier Savings & Loan.
How big was Frontier Savings & Loan when it failed?
Frontier Savings & Loan had approximately $1.03B in total assets and $826.8M in deposits at the time of failure.
Other failures in 1988
| Date | Bank | Assets |
|---|---|---|
| Dec 16, 1988 | First Industrial Bank of Rocky Ford | $12.5M |
| Dec 16, 1988 | First Southwest Bank | $9.8M |
| Dec 15, 1988 | Texas National Bank | $37.7M |
| Dec 15, 1988 | First National Bank in Center | $26.1M |
| Dec 15, 1988 | Crescent City Bank & Trust Company | $24.0M |
| Dec 15, 1988 | Texas Bank of Plano | $15.1M |
| Dec 15, 1988 | First National Bank in Bogata | $13.2M |
| Dec 9, 1988 | Silverado S&LA | $2.32B |
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