FDIC Open-Bank Assistance
Oregon Mutual Savings Bank
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Assistance provided August 5, 1983 · Portland, OR · FDIC Cert #9572.
- Assistance date
- August 5, 1983
- Headquarters
- Portland, OR
- FDIC Certificate
- 9572
- Total assets at the time
- $265.7M
- Total deposits at the time
- $251.3M
- Estimated loss to the insurance fund
- $11.9M
- Insurance fund
- FDIC insurance fund
- Resolution
- Open-bank assistance (the institution stayed open)
- Acquirer
- Oregon Mutual Savings Bank
Context
On August 5, 1983, the FDIC provided open-bank assistance to Oregon Mutual Savings Bank, headquartered in Portland, OR. The institution continued operating. At the time it held approximately $265.7M in assets and $251.3M in deposits. The assistance went to the bank itself; no other institution acquired it. The estimated cost to the FDIC insurance fund was approximately $11.9M.
The FDIC record for 1983 holds 50 failures and 49 open-bank assistance transactions. 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 the FDIC provide assistance to Oregon Mutual Savings Bank?
Oregon Mutual Savings Bank received FDIC open-bank assistance on August 5, 1983; it did not fail.
How big was Oregon Mutual Savings Bank at the time of assistance?
Oregon Mutual Savings Bank had approximately $265.7M in total assets and $251.3M in deposits at the time of assistance.
Bank failures in 1983
| Date | Bank | Assets |
|---|---|---|
| Dec 16, 1983 | The Bank of Red Oak | $11.1M |
| Dec 13, 1983 | Bank of Hackleburg | $6.5M |
| Dec 9, 1983 | Union Trust Company | $30.6M |
| Dec 2, 1983 | Metro FS&LA | $27.4M |
| Nov 25, 1983 | Atkinson Trust & Savings Bank | $21.1M |
| Nov 11, 1983 | First Nat BK of Browning | $13.7M |
| Nov 3, 1983 | State of Clovis, Sa | $30.9M |
| Oct 28, 1983 | Cleveland Community Savings Co. | $21.0M |
Explore: all failures · OR bank events · 1983 events · events hub