Bank Failure
Superior National Bank
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Closed April 14, 1994 · Kansas City, MO · FDIC Cert #25678.
- Closing date
- April 14, 1994
- Headquarters
- Kansas City, MO
- FDIC Certificate
- 25678
- Total assets at closing
- $20.0M
- Total deposits at closing
- $19.6M
- Estimated loss to the insurance fund
- $3.7M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Citizens-Jackson County Ban
Context
On April 14, 1994, regulators closed Superior National Bank, headquartered in Kansas City, MO. At closing, the institution held approximately $20.0M in assets and $19.6M in deposits. The FDIC record names Citizens-Jackson County Ban as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $3.7M.
By assets at closing this is the 2346th largest of the 3,526 bank failures in the FDIC record, and the 13th of 15 in 1994. 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 Superior National Bank fail?
Superior National Bank was closed by regulators on April 14, 1994.
Who acquired Superior National Bank?
The FDIC record names Citizens-Jackson County Ban as the acquiring institution in the resolution of Superior National Bank.
How big was Superior National Bank when it failed?
Superior National Bank had approximately $20.0M in total assets and $19.6M in deposits at the time of failure.
Other failures in 1994
| Date | Bank | Assets |
|---|---|---|
| Dec 16, 1994 | Cornerstone Bank FSB | $44.3M |
| Oct 21, 1994 | Ludlow Savings Bank | $222.7M |
| Aug 26, 1994 | Capital Bank | $76.9M |
| Aug 12, 1994 | Bank of Newport | $167.8M |
| Jul 29, 1994 | Commerce Bank | $142.3M |
| Jul 29, 1994 | Western Community Bank | $54.0M |
| Jul 15, 1994 | Bank of San Pedro | $132.6M |
| Jul 8, 1994 | Pioneer Bank | $133.2M |
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