Bank Failure
Monycor Savings Bank
Closed July 12, 1991 · Barron, WI · FDIC Cert #29295.
- Closing date
- July 12, 1991
- Headquarters
- Barron, WI
- FDIC Certificate
- 29295
- Total assets at closing
- $151.7M
- Total deposits at closing
- $137.6M
- Estimated loss to DIF
- $1.9M
- Resolution
- Failure (closed by regulators). The FDIC record lists the resolution as: branch sale.
Context
On July 12, 1991, regulators closed Monycor Savings Bank, headquartered in Barron, WI. At closing, the institution held approximately $151.7M in assets and $137.6M in deposits. The FDIC record lists the resolution as a branch sale; no acquiring institution is named. The estimated cost to the FDIC Deposit Insurance Fund was approximately $1.9M.
By assets at closing this is the 929th largest of the 3,524 bank failures in the FDIC record, and the 100th 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 Monycor Savings Bank fail?
Monycor Savings Bank was closed by regulators on July 12, 1991.
How big was Monycor Savings Bank when it failed?
Monycor Savings Bank had approximately $151.7M in total assets and $137.6M 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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