Bank Failure
The Guardian Bank, FSB
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Closed March 16, 1993 · Boca Raton, FL · FDIC Cert #32238.
- Closing date
- March 16, 1993
- Headquarters
- Boca Raton, FL
- FDIC Certificate
- 32238
- Total assets at closing
- $75.6M
- Total deposits at closing
- $69.2M
- Estimated loss to the insurance fund
- $3.6M
- Insurance fund
- Resolution Trust Corporation (RTC)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Shawmut Bank, FSB
Context
On March 16, 1993, regulators closed The Guardian Bank, FSB, headquartered in Boca Raton, FL. At closing, the institution held approximately $75.6M in assets and $69.2M in deposits. The FDIC record names Shawmut Bank, FSB as the acquiring institution in the resolution. The estimated cost to the Resolution Trust Corporation (RTC) was approximately $3.6M.
By assets at closing this is the 1371st largest of the 3,526 bank failures in the FDIC record, and the 19th of 50 in 1993. 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 Guardian Bank, FSB fail?
The Guardian Bank, FSB was closed by regulators on March 16, 1993.
Who acquired The Guardian Bank, FSB?
The FDIC record names Shawmut Bank, FSB as the acquiring institution in the resolution of The Guardian Bank, FSB.
How big was The Guardian Bank, FSB when it failed?
The Guardian Bank, FSB had approximately $75.6M in total assets and $69.2M in deposits at the time of failure.
Other failures in 1993
| Date | Bank | Assets |
|---|---|---|
| Nov 5, 1993 | Century Thrift and Loan | $31.9M |
| Oct 29, 1993 | The Bank of San Diego | $294.3M |
| Oct 21, 1993 | Mid City Bank, N.A. | $105.7M |
| Oct 15, 1993 | Brentwood Thrift and Loan Association | $12.9M |
| Oct 14, 1993 | Plaza Bank, N.A. of New Braunfels | $54.6M |
| Sep 24, 1993 | Westside Bank, FSB | $81.7M |
| Sep 24, 1993 | Western United National Bank | $23.7M |
| Sep 17, 1993 | Regent Thrift and Loan Association | $35.8M |
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