Bank Failure
St. Louis County Savings Assoc.
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Closed January 11, 1990 · Ferguson, MO · FDIC Cert #28928.
- Closing date
- January 11, 1990
- Headquarters
- Ferguson, MO
- FDIC Certificate
- 28928
- Total assets at closing
- $85.8M
- Total deposits at closing
- $81.2M
- Estimated loss to the insurance fund
- Not available (the FDIC feed's figure of $9K is not consistent with a failure of this size)
- Insurance fund
- Resolution Trust Corporation (RTC)
- Resolution
- Failure (closed by regulators)
- Acquirer
- South Side NB in St. Louis
Context
On January 11, 1990, regulators closed St. Louis County Savings Assoc., headquartered in Ferguson, MO. At closing, the institution held approximately $85.8M in assets and $81.2M in deposits. The FDIC record names South Side NB in St. Louis as the acquiring institution in the resolution.
By assets at closing this is the 1289th largest of the 3,526 bank failures in the FDIC record, and the 163rd of 381 in 1990. 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 St. Louis County Savings Assoc. fail?
St. Louis County Savings Assoc. was closed by regulators on January 11, 1990.
Who acquired St. Louis County Savings Assoc.?
The FDIC record names South Side NB in St. Louis as the acquiring institution in the resolution of St. Louis County Savings Assoc.
How big was St. Louis County Savings Assoc. when it failed?
St. Louis County Savings Assoc. had approximately $85.8M in total assets and $81.2M in deposits at the time of failure.
Other failures in 1990
| Date | Bank | Assets |
|---|---|---|
| Dec 28, 1990 | Capitol Bank and Trust Company | $485.6M |
| Dec 28, 1990 | Southern FS | $230.8M |
| Dec 28, 1990 | First FS & La of Andalusia | $38.7M |
| Dec 27, 1990 | Enterprise Savings Bank, F.A. | $432.6M |
| Dec 21, 1990 | Arkansas FSB | $71.7M |
| Dec 15, 1990 | Mid-America FS & La | $1.21B |
| Dec 14, 1990 | Community FS & La | $1.98B |
| Dec 14, 1990 | Comfed Savings Bank | $1.40B |
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