Bank Failure
Mercury Savings
BankRegReports is independent of Mercury Savings and never asks for online banking logins or passwords.
Closed February 23, 1990 · Huntington Beach, CA · FDIC Cert #31273.
- Closing date
- February 23, 1990
- Headquarters
- Huntington Beach, CA
- FDIC Certificate
- 31273
- Total assets at closing
- $2.16B
- Total deposits at closing
- $1.79B
- Estimated loss to the insurance fund
- $15.7M
- Insurance fund
- Resolution Trust Corporation (RTC)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Security Pacific NB, N.A.
Context
On February 23, 1990, regulators closed Mercury Savings, headquartered in Huntington Beach, CA. At closing, the institution held approximately $2.16B in assets and $1.79B in deposits. The FDIC record names Security Pacific NB, N.A. as the acquiring institution in the resolution. The estimated cost to the Resolution Trust Corporation (RTC) was approximately $15.7M.
By assets at closing this is the 101st largest of the 3,526 bank failures in the FDIC record, and the 15th 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 Mercury Savings fail?
Mercury Savings was closed by regulators on February 23, 1990.
Who acquired Mercury Savings?
The FDIC record names Security Pacific NB, N.A. as the acquiring institution in the resolution of Mercury Savings.
How big was Mercury Savings when it failed?
Mercury Savings had approximately $2.16B in total assets and $1.79B 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 |
Explore: all failures · CA bank events · 1990 events · events hub