Bank Failure
North American Thrift and Loan
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Closed May 29, 1992 · Corona Del Mar, CA · FDIC Cert #27570.
- Closing date
- May 29, 1992
- Headquarters
- Corona Del Mar, CA
- FDIC Certificate
- 27570
- Total assets at closing
- $21.3M
- Total deposits at closing
- $20.9M
- Estimated loss to the insurance fund
- $4.5M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
Context
On May 29, 1992, regulators closed North American Thrift and Loan, headquartered in Corona Del Mar, CA. At closing, the institution held approximately $21.3M in assets and $20.9M in deposits. The FDIC record does not name an acquiring institution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $4.5M.
By assets at closing this is the 2293rd largest of the 3,526 bank failures in the FDIC record, and the 158th of 179 in 1992. 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 North American Thrift and Loan fail?
North American Thrift and Loan was closed by regulators on May 29, 1992.
How big was North American Thrift and Loan when it failed?
North American Thrift and Loan had approximately $21.3M in total assets and $20.9M in deposits at the time of failure.
Other failures in 1992
| Date | Bank | Assets |
|---|---|---|
| Dec 18, 1992 | The Rushville National Bank | $41.6M |
| Dec 18, 1992 | The Bremen State Bank | $2.7M |
| Dec 11, 1992 | Meritor Savings Bank | $4.13B |
| Dec 11, 1992 | Eastland Savings Bank | $515.3M |
| Dec 11, 1992 | Eastland Bank | $85.4M |
| Dec 11, 1992 | Sailors & Merchants B&T Co. | $34.8M |
| Dec 8, 1992 | Palm Beach FSA | $59.4M |
| Dec 4, 1992 | Carteret FSB | $4.83B |
Explore: all failures · CA bank events · 1992 events · events hub