FDIC Open-Bank Assistance
Great West S&LA
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Assistance provided January 31, 1986 · Las Vegas, NV · FDIC Cert #32149.
- Assistance date
- January 31, 1986
- Headquarters
- Las Vegas, NV
- FDIC Certificate
- 32149
- Total assets at the time
- $52.1M
- Total deposits at the time
- $52.2M
- Estimated loss to the insurance fund
- Not available (the FDIC feed's figure of $3K is not consistent with a failure of this size)
- Insurance fund
- Federal Savings and Loan Insurance Corporation (FSLIC)
- Resolution
- Open-bank assistance (the institution stayed open)
- Acquirer
- Great West Savings&loan Ass
Context
On January 31, 1986, the FDIC provided open-bank assistance to Great West S&LA, headquartered in Las Vegas, NV. The institution continued operating. At the time it held approximately $52.1M in assets and $52.2M in deposits. The FDIC record names Great West Savings&loan Ass 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 Great West S&LA?
Great West S&LA received FDIC open-bank assistance on January 31, 1986; it did not fail.
How big was Great West S&LA at the time of assistance?
Great West S&LA had approximately $52.1M in total assets and $52.2M 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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