Bank Failure
United Savings of America, F.A.
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Closed February 7, 1992 · Melbourne, FL · FDIC Cert #30265.
- Closing date
- February 7, 1992
- Headquarters
- Melbourne, FL
- FDIC Certificate
- 30265
- Total assets at closing
- $327.2M
- Total deposits at closing
- $293.4M
- Estimated loss to the insurance fund
- $15.4M
- Insurance fund
- Resolution Trust Corporation (RTC)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Barnett Bank of Central FL
Context
On February 7, 1992, regulators closed United Savings of America, F.A., headquartered in Melbourne, FL. At closing, the institution held approximately $327.2M in assets and $293.4M in deposits. The FDIC record names Barnett Bank of Central FL as the acquiring institution in the resolution. The estimated cost to the Resolution Trust Corporation (RTC) was approximately $15.4M.
By assets at closing this is the 526th largest of the 3,526 bank failures in the FDIC record, and the 47th 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 United Savings of America, F.A. fail?
United Savings of America, F.A. was closed by regulators on February 7, 1992.
Who acquired United Savings of America, F.A.?
The FDIC record names Barnett Bank of Central FL as the acquiring institution in the resolution of United Savings of America, F.A.
How big was United Savings of America, F.A. when it failed?
United Savings of America, F.A. had approximately $327.2M in total assets and $293.4M 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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