Bank Failure
Irvington FSB
BankRegReports is independent of Irvington FSB and never asks for online banking logins or passwords.
Closed February 28, 1992 · Glen Burnie, MD · FDIC Cert #28588.
- Closing date
- February 28, 1992
- Headquarters
- Glen Burnie, MD
- FDIC Certificate
- 28588
- Total assets at closing
- $43.8M
- Total deposits at closing
- $43.2M
- Estimated loss to the insurance fund
- $5.1M
- Insurance fund
- Resolution Trust Corporation (RTC)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Arundel FSB
Context
On February 28, 1992, regulators closed Irvington FSB, headquartered in Glen Burnie, MD. At closing, the institution held approximately $43.8M in assets and $43.2M in deposits. The FDIC record names Arundel FSB as the acquiring institution in the resolution. The estimated cost to the Resolution Trust Corporation (RTC) was approximately $5.1M.
By assets at closing this is the 1751st largest of the 3,526 bank failures in the FDIC record, and the 125th of 179 in 1992. 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 Irvington FSB fail?
Irvington FSB was closed by regulators on February 28, 1992.
Who acquired Irvington FSB?
The FDIC record names Arundel FSB as the acquiring institution in the resolution of Irvington FSB.
How big was Irvington FSB when it failed?
Irvington FSB had approximately $43.8M in total assets and $43.2M in deposits at the time of failure.
Other failures in 1992
| Date | Bank | Assets |
|---|---|---|
| Dec 18, 1992 | The Rushville National Bank | $41.6M |
| Dec 18, 1992 | The Bremen State Bank | $2.7M |
| Dec 11, 1992 | Meritor Savings Bank | $4.13B |
| Dec 11, 1992 | Eastland Savings Bank | $515.3M |
| Dec 11, 1992 | Eastland Bank | $85.4M |
| Dec 11, 1992 | Sailors & Merchants B&T Co. | $34.8M |
| Dec 8, 1992 | Palm Beach FSA | $59.4M |
| Dec 4, 1992 | Carteret FSB | $4.83B |
Explore: all failures · MD bank events · 1992 events · events hub