Bank Failure
Gibraltar Savings Bank, FSB
BankRegReports is independent of Gibraltar Savings Bank, FSB and never asks for online banking logins or passwords.
Closed March 31, 1989 · Seattle, WA · FDIC Cert #31392.
- Closing date
- March 31, 1989
- Headquarters
- Seattle, WA
- FDIC Certificate
- 31392
- Total assets at closing
- $1.68B
- Total deposits at closing
- $1.37B
- Estimated loss to the insurance fund
- Not available (the FDIC feed's figure of $59K is not consistent with a failure of this size)
- Insurance fund
- Resolution Trust Corporation (RTC)
- Resolution
- Failure (closed by regulators). The FDIC record lists the resolution as: branch sale.
Context
On March 31, 1989, regulators closed Gibraltar Savings Bank, FSB, headquartered in Seattle, WA. At closing, the institution held approximately $1.68B in assets and $1.37B in deposits. The FDIC record lists the resolution as a branch sale; no acquiring institution is named.
By assets at closing this is the 133rd largest of the 3,526 bank failures in the FDIC record, and the 19th of 530 in 1989. 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 Gibraltar Savings Bank, FSB fail?
Gibraltar Savings Bank, FSB was closed by regulators on March 31, 1989.
How big was Gibraltar Savings Bank, FSB when it failed?
Gibraltar Savings Bank, FSB had approximately $1.68B in total assets and $1.37B in deposits at the time of failure.
Other failures in 1989
| Date | Bank | Assets |
|---|---|---|
| Dec 21, 1989 | Columbia FSA | $77.1M |
| Dec 21, 1989 | Silver Savings Assoc. | $32.2M |
| Dec 20, 1989 | First City National Bank and Trust | $39.5M |
| Dec 20, 1989 | United Community Bank | $32.3M |
| Dec 15, 1989 | First American Bank and Trust | $1.38B |
| Dec 14, 1989 | Yorkridge-Calvert Federal Savings | $585.8M |
| Dec 14, 1989 | Louisiana Savings Assn. | $449.3M |
| Dec 14, 1989 | First Acadiana Bank | $46.8M |
Explore: all failures · WA bank events · 1989 events · events hub