Bank Failure
Major Federal S&LA
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Closed July 25, 1986 · Cincinnati, OH · FDIC Cert #30768.
- Closing date
- July 25, 1986
- Headquarters
- Cincinnati, OH
- FDIC Certificate
- 30768
- Total assets at closing
- $25.0M
- Total deposits at closing
- $21.4M
- Estimated loss to the insurance fund
- $8.8M
- Insurance fund
- Federal Savings and Loan Insurance Corporation (FSLIC)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Charter Oak FSB
Context
On July 25, 1986, regulators closed Major Federal S&LA, headquartered in Cincinnati, OH. At closing, the institution held approximately $25.0M in assets and $21.4M in deposits. The FDIC record names Charter Oak FSB as the acquiring institution in the resolution. The estimated cost to the Federal Savings and Loan Insurance Corporation (FSLIC) was approximately $8.8M.
By assets at closing this is the 2176th largest of the 3,526 bank failures in the FDIC record, and the 85th of 162 in 1986. 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 Major Federal S&LA fail?
Major Federal S&LA was closed by regulators on July 25, 1986.
Who acquired Major Federal S&LA?
The FDIC record names Charter Oak FSB as the acquiring institution in the resolution of Major Federal S&LA.
How big was Major Federal S&LA when it failed?
Major Federal S&LA had approximately $25.0M in total assets and $21.4M in deposits at the time of failure.
Other failures in 1986
| Date | Bank | Assets |
|---|---|---|
| Dec 19, 1986 | Lakeland State Bank | $49.4M |
| Dec 19, 1986 | Farmers State Bank | $9.7M |
| Dec 18, 1986 | First Bank & Trust Co. | $94.9M |
| Dec 18, 1986 | Landmark National Bank | $12.9M |
| Dec 18, 1986 | Lago Vista National Bank | $11.9M |
| Dec 12, 1986 | Guaranty Federal Bank FSB | $63.8M |
| Dec 12, 1986 | First Savings of America | $47.0M |
| Dec 9, 1986 | The Citizens Bank of Windsor | $24.8M |
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