Bank Failure
Mid-America FS & La
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Closed December 15, 1990 · Columbus, OH · FDIC Cert #28783.
- Closing date
- December 15, 1990
- Headquarters
- Columbus, OH
- FDIC Certificate
- 28783
- Total assets at closing
- $1.21B
- Total deposits at closing
- $894.3M
- Estimated loss to the insurance fund
- Not available (the FDIC feed's figure of $71K is not consistent with a failure of this size)
- Insurance fund
- Resolution Trust Corporation (RTC)
- Resolution
- Failure (closed by regulators)
- Acquirer
- NBD Bank
Context
On December 15, 1990, regulators closed Mid-America FS & La, headquartered in Columbus, OH. At closing, the institution held approximately $1.21B in assets and $894.3M in deposits. The FDIC record names NBD Bank as the acquiring institution in the resolution.
By assets at closing this is the 179th largest of the 3,526 bank failures in the FDIC record, and the 26th 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 Mid-America FS & La fail?
Mid-America FS & La was closed by regulators on December 15, 1990.
Who acquired Mid-America FS & La?
The FDIC record names NBD Bank as the acquiring institution in the resolution of Mid-America FS & La.
How big was Mid-America FS & La when it failed?
Mid-America FS & La had approximately $1.21B in total assets and $894.3M 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 14, 1990 | Community FS & La | $1.98B |
| Dec 14, 1990 | Comfed Savings Bank | $1.40B |
| Dec 14, 1990 | Olympic Federal Savings | $1.05B |
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