Bank Failure
OLD STONE SB
Closed January 29, 1993 · PROVIDENCE, RI · FDIC Cert #29892.
- Closing date
- January 29, 1993
- Headquarters
- PROVIDENCE, RI
- FDIC Certificate
- 29892
- Total assets at closing
- $1,847,236,000
- Total deposits at closing
- $1,704,347,000
- Estimated loss to DIF
- $73,560,000
- Resolution type
- other
- Acquirer
- CITIZENS SB (FDIC Cert #1290)
Context
On January 29, 1993, regulators closed OLD STONE SB, headquartered in PROVIDENCE, RI. At closing, the institution held approximately $1,847,236,000 in assets and $1,704,347,000 in deposits. The FDIC arranged a resolution under which CITIZENS SB acquired the failed bank's operations. The estimated cost to the FDIC Deposit Insurance Fund was approximately $73,560,000.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Other failures in 1993
| Date | Bank | HQ | Assets |
|---|---|---|---|
| 1993-11-05 | CENTURY THRIFT AND LOAN | LOS ANGELES, CA | $31,876,000 |
| 1993-10-29 | THE BANK OF SAN DIEGO | SAN DIEGO, CA | $294,277,000 |
| 1993-10-21 | MID CITY BANK, N.A. | BREA, CA | $105,734,000 |
| 1993-10-15 | BRENTWOOD THRIFT AND LOAN ASSOCIATION | LOS ANGELES, CA | $12,920,000 |
| 1993-10-14 | PLAZA BANK, N.A. OF NEW BRAUNFELS | NEW BRAUNFELS, TX | $54,647,000 |
| 1993-09-24 | WESTSIDE BANK, FSB | LOS ANGELES, CA | $81,689,000 |
| 1993-09-24 | WESTERN UNITED NATIONAL BANK | LOS ANGELES, CA | $23,727,000 |
| 1993-09-17 | REGENT THRIFT AND LOAN ASSOCIATION | SAN FRANCISCO, CA | $35,751,000 |
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