Bank Failure
Hollywood FSB
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Closed February 22, 1991 · Hollywood, FL · FDIC Cert #29015.
- Closing date
- February 22, 1991
- Headquarters
- Hollywood, FL
- FDIC Certificate
- 29015
- Total assets at closing
- $1.53B
- Total deposits at closing
- $1.37B
- Estimated loss to the insurance fund
- $82.6M
- Insurance fund
- Resolution Trust Corporation (RTC)
- Resolution
- Failure (closed by regulators)
- Acquirer
- First Union NB of FL
Context
On February 22, 1991, regulators closed Hollywood FSB, headquartered in Hollywood, FL. At closing, the institution held approximately $1.53B in assets and $1.37B in deposits. The FDIC record names First Union NB of FL as the acquiring institution in the resolution. The estimated cost to the Resolution Trust Corporation (RTC) was approximately $82.6M.
By assets at closing this is the 151st largest of the 3,526 bank failures in the FDIC record, and the 19th of 268 in 1991. 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 Hollywood FSB fail?
Hollywood FSB was closed by regulators on February 22, 1991.
Who acquired Hollywood FSB?
The FDIC record names First Union NB of FL as the acquiring institution in the resolution of Hollywood FSB.
How big was Hollywood FSB when it failed?
Hollywood FSB had approximately $1.53B in total assets and $1.37B in deposits at the time of failure.
Other failures in 1991
| Date | Bank | Assets |
|---|---|---|
| Dec 20, 1991 | North Ridge Bank | $94.3M |
| Dec 13, 1991 | Investors FSB | $2.06B |
| Dec 13, 1991 | The Bank Mart | $578.2M |
| Dec 13, 1991 | Merchants National Bank | $153.6M |
| Dec 13, 1991 | Bank of East Hartford | $36.6M |
| Dec 13, 1991 | Federal Finance & Mortgage, LTD | $7.7M |
| Dec 12, 1991 | Granite Co-Operative Bank | $103.8M |
| Dec 6, 1991 | Saybrook Bank and Trust Company | $77.3M |
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