Bank Failure
Jonesboro Federal Sa
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Closed May 18, 1990 · Jonesboro, LA · FDIC Cert #28811.
- Closing date
- May 18, 1990
- Headquarters
- Jonesboro, LA
- FDIC Certificate
- 28811
- Total assets at closing
- $55.0M
- Total deposits at closing
- $54.1M
- Estimated loss to the insurance fund
- $18.8M
- Insurance fund
- Resolution Trust Corporation (RTC)
- Resolution
- Failure (closed by regulators). The FDIC record lists the resolution as: deposit payout.
Context
On May 18, 1990, regulators closed Jonesboro Federal Sa, headquartered in Jonesboro, LA. At closing, the institution held approximately $55.0M in assets and $54.1M in deposits. The FDIC record lists the resolution as a deposit payout; no acquiring institution is named. The estimated cost to the Resolution Trust Corporation (RTC) was approximately $18.8M.
By assets at closing this is the 1577th largest of the 3,526 bank failures in the FDIC record, and the 207th 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 Jonesboro Federal Sa fail?
Jonesboro Federal Sa was closed by regulators on May 18, 1990.
How big was Jonesboro Federal Sa when it failed?
Jonesboro Federal Sa had approximately $55.0M in total assets and $54.1M 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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