Bank Failure
San Clemente FSB
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Closed June 12, 1992 · San Clemente, CA · FDIC Cert #31452.
- Closing date
- June 12, 1992
- Headquarters
- San Clemente, CA
- FDIC Certificate
- 31452
- Total assets at closing
- $220.4M
- Total deposits at closing
- $205.7M
- Estimated loss to the insurance fund
- $32.8M
- Insurance fund
- Resolution Trust Corporation (RTC)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Household Bank, FSB
Context
On June 12, 1992, regulators closed San Clemente FSB, headquartered in San Clemente, CA. At closing, the institution held approximately $220.4M in assets and $205.7M in deposits. The FDIC record names Household Bank, FSB as the acquiring institution in the resolution. The estimated cost to the Resolution Trust Corporation (RTC) was approximately $32.8M.
By assets at closing this is the 715th largest of the 3,526 bank failures in the FDIC record, and the 62nd 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 San Clemente FSB fail?
San Clemente FSB was closed by regulators on June 12, 1992.
Who acquired San Clemente FSB?
The FDIC record names Household Bank, FSB as the acquiring institution in the resolution of San Clemente FSB.
How big was San Clemente FSB when it failed?
San Clemente FSB had approximately $220.4M in total assets and $205.7M 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 |
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