Bank Failure
Landmark Thrift and Loan Association
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Closed July 12, 1991 · San Diego, CA · FDIC Cert #25592.
- Closing date
- July 12, 1991
- Headquarters
- San Diego, CA
- FDIC Certificate
- 25592
- Total assets at closing
- $16.6M
- Total deposits at closing
- $15.8M
- Estimated loss to the insurance fund
- $2.2M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
Context
On July 12, 1991, regulators closed Landmark Thrift and Loan Association, headquartered in San Diego, CA. At closing, the institution held approximately $16.6M in assets and $15.8M in deposits. The FDIC record does not name an acquiring institution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $2.2M.
By assets at closing this is the 2476th largest of the 3,526 bank failures in the FDIC record, and the 250th 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 Landmark Thrift and Loan Association fail?
Landmark Thrift and Loan Association was closed by regulators on July 12, 1991.
How big was Landmark Thrift and Loan Association when it failed?
Landmark Thrift and Loan Association had approximately $16.6M in total assets and $15.8M 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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