FDIC Open-Bank Assistance
The Gunnison Bank & Trust Co.
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Assistance provided October 2, 1991 · Gunnison, CO · FDIC Cert #11259.
- Assistance date
- October 2, 1991
- Headquarters
- Gunnison, CO
- FDIC Certificate
- 11259
- Total assets at the time
- $20.1M
- Total deposits at the time
- $19.3M
- Estimated loss to the insurance fund
- $1.5M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Open-bank assistance (the institution stayed open)
- Acquirer
- The Gunnison Bank & Trust C
Context
On October 2, 1991, the FDIC provided open-bank assistance to The Gunnison Bank & Trust Co., headquartered in Gunnison, CO. The institution continued operating. At the time it held approximately $20.1M in assets and $19.3M in deposits. The assistance went to the bank itself; no other institution acquired it. The estimated cost to the Bank Insurance Fund (BIF) was approximately $1.5M.
The FDIC record for 1991 holds 268 failures and 3 open-bank assistance transactions. 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 FDIC provide assistance to The Gunnison Bank & Trust Co.?
The Gunnison Bank & Trust Co. received FDIC open-bank assistance on October 2, 1991; it did not fail.
How big was The Gunnison Bank & Trust Co. at the time of assistance?
The Gunnison Bank & Trust Co. had approximately $20.1M in total assets and $19.3M in deposits at the time of assistance.
Bank failures in 1991
| Date | Bank | Assets |
|---|---|---|
| Dec 20, 1991 | North Ridge Bank | $94.3M |
| Dec 13, 1991 | Investors FSB | $2.06B |
| Dec 13, 1991 | The Bank Mart | $578.2M |
| Dec 13, 1991 | Merchants National Bank | $153.6M |
| Dec 13, 1991 | Bank of East Hartford | $36.6M |
| Dec 13, 1991 | Federal Finance & Mortgage, LTD | $7.7M |
| Dec 12, 1991 | Granite Co-Operative Bank | $103.8M |
| Dec 6, 1991 | Saybrook Bank and Trust Company | $77.3M |
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