Bank Failure
Vista FSA
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Closed February 28, 1992 · Reston, VA · FDIC Cert #32383.
- Closing date
- February 28, 1992
- Headquarters
- Reston, VA
- FDIC Certificate
- 32383
- Total assets at closing
- $113.2M
- Total deposits at closing
- $108.7M
- Estimated loss to the insurance fund
- $36.9M
- Insurance fund
- Resolution Trust Corporation (RTC)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Eastern American Bank, FSB
Context
On February 28, 1992, regulators closed Vista FSA, headquartered in Reston, VA. At closing, the institution held approximately $113.2M in assets and $108.7M in deposits. The FDIC record names Eastern American Bank, FSB as the acquiring institution in the resolution. The estimated cost to the Resolution Trust Corporation (RTC) was approximately $36.9M.
By assets at closing this is the 1118th largest of the 3,526 bank failures in the FDIC record, and the 84th 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 Vista FSA fail?
Vista FSA was closed by regulators on February 28, 1992.
Who acquired Vista FSA?
The FDIC record names Eastern American Bank, FSB as the acquiring institution in the resolution of Vista FSA.
How big was Vista FSA when it failed?
Vista FSA had approximately $113.2M in total assets and $108.7M 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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