Bank Failure
San Marino S&LA
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Closed December 7, 1984 · San Marino, CA · FDIC Cert #31987.
- Closing date
- December 7, 1984
- Headquarters
- San Marino, CA
- FDIC Certificate
- 31987
- Total assets at closing
- $856.8M
- Total deposits at closing
- $212.2M
- Estimated loss to the insurance fund
- $263.1M
- Insurance fund
- Federal Savings and Loan Insurance Corporation (FSLIC)
- Resolution
- Failure (closed by regulators)
Context
On December 7, 1984, regulators closed San Marino S&LA, headquartered in San Marino, CA. At closing, the institution held approximately $856.8M in assets and $212.2M in deposits. The FDIC record does not name an acquiring institution. The estimated cost to the Federal Savings and Loan Insurance Corporation (FSLIC) was approximately $263.1M.
By assets at closing this is the 246th largest of the 3,526 bank failures in the FDIC record, and the 1st of 83 in 1984. 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 Marino S&LA fail?
San Marino S&LA was closed by regulators on December 7, 1984.
How big was San Marino S&LA when it failed?
San Marino S&LA had approximately $856.8M in total assets and $212.2M in deposits at the time of failure.
Other failures in 1984
| Date | Bank | Assets |
|---|---|---|
| Dec 22, 1984 | First Security Bank | $13.4M |
| Dec 20, 1984 | The Farmers State Bank | $14.6M |
| Dec 18, 1984 | Uehling State Bank | $4.2M |
| Dec 11, 1984 | University Bank of Wichita | $4.7M |
| Dec 7, 1984 | Farmers State BK of Holyoke | $3.9M |
| Dec 4, 1984 | Golden Spike State Bank | $7.8M |
| Nov 30, 1984 | The Dayton BK & TR Co. | $51.4M |
| Nov 29, 1984 | The Strong City State Bank | $5.0M |
Explore: all failures · CA bank events · 1984 events · events hub