Bank Failure
Silverado S&LA
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Closed December 9, 1988 · Denver, CO · FDIC Cert #30760.
- Closing date
- December 9, 1988
- Headquarters
- Denver, CO
- FDIC Certificate
- 30760
- Total assets at closing
- $2.32B
- Total deposits at closing
- $1.77B
- Estimated loss to the insurance fund
- $1.30B
- Insurance fund
- Federal Savings and Loan Insurance Corporation (FSLIC)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Columbia Savings, a FS&LA
Context
On December 9, 1988, regulators closed Silverado S&LA, headquartered in Denver, CO. At closing, the institution held approximately $2.32B in assets and $1.77B in deposits. The FDIC record names Columbia Savings, a FS&LA as the acquiring institution in the resolution. The estimated cost to the Federal Savings and Loan Insurance Corporation (FSLIC) was approximately $1.30B.
By assets at closing this is the 93rd largest of the 3,526 bank failures in the FDIC record, and the 3rd of 232 in 1988. 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 Silverado S&LA fail?
Silverado S&LA was closed by regulators on December 9, 1988.
Who acquired Silverado S&LA?
The FDIC record names Columbia Savings, a FS&LA as the acquiring institution in the resolution of Silverado S&LA.
How big was Silverado S&LA when it failed?
Silverado S&LA had approximately $2.32B in total assets and $1.77B in deposits at the time of failure.
Other failures in 1988
| Date | Bank | Assets |
|---|---|---|
| Dec 16, 1988 | First Industrial Bank of Rocky Ford | $12.5M |
| Dec 16, 1988 | First Southwest Bank | $9.8M |
| Dec 15, 1988 | Texas National Bank | $37.7M |
| Dec 15, 1988 | First National Bank in Center | $26.1M |
| Dec 15, 1988 | Crescent City Bank & Trust Company | $24.0M |
| Dec 15, 1988 | Texas Bank of Plano | $15.1M |
| Dec 15, 1988 | First National Bank in Bogata | $13.2M |
| Dec 9, 1988 | Caribank | $525.8M |
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