Bank Failure
The Private Bank & Trust, Nation
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Closed October 29, 1991 · Miami, FL · FDIC Cert #26695.
- Closing date
- October 29, 1991
- Headquarters
- Miami, FL
- FDIC Certificate
- 26695
- Total assets at closing
- $4.3M
- Estimated loss to the insurance fund
- $1.5M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
Context
On October 29, 1991, regulators closed The Private Bank & Trust, Nation, headquartered in Miami, FL. At closing, the institution held approximately $4.3M in assets. The FDIC record does not name an acquiring institution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $1.5M.
By assets at closing this is the 3021st largest of the 3,526 bank failures in the FDIC record, and the 268th of 268 in 1991. 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 Private Bank & Trust, Nation fail?
The Private Bank & Trust, Nation was closed by regulators on October 29, 1991.
How big was The Private Bank & Trust, Nation when it failed?
The Private Bank & Trust, Nation had approximately $4.3M in total assets at the time of failure.
Other 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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