Bank Failure
The Ben Franklin FS & La
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Closed February 21, 1990 · Portland, OR · FDIC Cert #28220.
- Closing date
- February 21, 1990
- Headquarters
- Portland, OR
- FDIC Certificate
- 28220
- Total assets at closing
- $4.62B
- Total deposits at closing
- $3.22B
- Estimated loss to the insurance fund
- Not available (the FDIC feed's figure of $133K is not consistent with a failure of this size)
- Insurance fund
- Resolution Trust Corporation (RTC)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Bank of America, FSB
Context
On February 21, 1990, regulators closed The Ben Franklin FS & La, headquartered in Portland, OR. At closing, the institution held approximately $4.62B in assets and $3.22B in deposits. The FDIC record names Bank of America, FSB as the acquiring institution in the resolution.
By assets at closing this is the 44th largest of the 3,526 bank failures in the FDIC record, and the 8th 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 The Ben Franklin FS & La fail?
The Ben Franklin FS & La was closed by regulators on February 21, 1990.
Who acquired The Ben Franklin FS & La?
The FDIC record names Bank of America, FSB as the acquiring institution in the resolution of The Ben Franklin FS & La.
How big was The Ben Franklin FS & La when it failed?
The Ben Franklin FS & La had approximately $4.62B in total assets and $3.22B 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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