Bank Failure
Investors of Florida
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Closed June 1, 1990 · Deerfield Beach, FL · FDIC Cert #32315.
- Closing date
- June 1, 1990
- Headquarters
- Deerfield Beach, FL
- FDIC Certificate
- 32315
- Total assets at closing
- $282.6M
- Total deposits at closing
- $244.9M
- Estimated loss to the insurance fund
- $64.1M
- Insurance fund
- Resolution Trust Corporation (RTC)
- Resolution
- Failure (closed by regulators)
- Acquirer
- J. P. Morgan FL, FSB
Context
On June 1, 1990, regulators closed Investors of Florida, headquartered in Deerfield Beach, FL. At closing, the institution held approximately $282.6M in assets and $244.9M in deposits. The FDIC record names J. P. Morgan FL, FSB as the acquiring institution in the resolution. The estimated cost to the Resolution Trust Corporation (RTC) was approximately $64.1M.
By assets at closing this is the 583rd largest of the 3,526 bank failures in the FDIC record, and the 78th 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 Investors of Florida fail?
Investors of Florida was closed by regulators on June 1, 1990.
Who acquired Investors of Florida?
The FDIC record names J. P. Morgan FL, FSB as the acquiring institution in the resolution of Investors of Florida.
How big was Investors of Florida when it failed?
Investors of Florida had approximately $282.6M in total assets and $244.9M 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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