Bank Failure
The Bank of Brandywine Valley
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Closed February 21, 1992 · West Chester, PA · FDIC Cert #27309.
- Closing date
- February 21, 1992
- Headquarters
- West Chester, PA
- FDIC Certificate
- 27309
- Total assets at closing
- $44.9M
- Total deposits at closing
- $47.3M
- Estimated loss to the insurance fund
- $12.1M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Wilmington Trust Co
Context
On February 21, 1992, regulators closed The Bank of Brandywine Valley, headquartered in West Chester, PA. At closing, the institution held approximately $44.9M in assets and $47.3M in deposits. The FDIC record names Wilmington Trust Co as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $12.1M.
By assets at closing this is the 1732nd largest of the 3,526 bank failures in the FDIC record, and the 124th 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 The Bank of Brandywine Valley fail?
The Bank of Brandywine Valley was closed by regulators on February 21, 1992.
Who acquired The Bank of Brandywine Valley?
The FDIC record names Wilmington Trust Co as the acquiring institution in the resolution of The Bank of Brandywine Valley.
How big was The Bank of Brandywine Valley when it failed?
The Bank of Brandywine Valley had approximately $44.9M in total assets and $47.3M 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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