Bank Failure
Standard FSB
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Closed October 21, 1992 · Gaithersburg, MD · FDIC Cert #31543.
- Closing date
- October 21, 1992
- Headquarters
- Gaithersburg, MD
- FDIC Certificate
- 31543
- Total assets at closing
- $1.72B
- Total deposits at closing
- $1.54B
- Estimated loss to the insurance fund
- $527.6M
- Insurance fund
- Resolution Trust Corporation (RTC)
- Resolution
- Failure (closed by regulators). The FDIC record lists the resolution as: branch sale.
Context
On October 21, 1992, regulators closed Standard FSB, headquartered in Gaithersburg, MD. At closing, the institution held approximately $1.72B in assets and $1.54B in deposits. The FDIC record lists the resolution as a branch sale; no acquiring institution is named. The estimated cost to the Resolution Trust Corporation (RTC) was approximately $527.6M.
By assets at closing this is the 129th largest of the 3,526 bank failures in the FDIC record, and the 12th 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 Standard FSB fail?
Standard FSB was closed by regulators on October 21, 1992.
How big was Standard FSB when it failed?
Standard FSB had approximately $1.72B in total assets and $1.54B 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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