Bank Failure
Yorkridge-Calvert Federal Savings
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Closed December 14, 1989 · Baltimore, MD · FDIC Cert #30675.
- Closing date
- December 14, 1989
- Headquarters
- Baltimore, MD
- FDIC Certificate
- 30675
- Total assets at closing
- $585.8M
- Total deposits at closing
- $372.2M
- Estimated loss to the insurance fund
- $40.1M
- Insurance fund
- Resolution Trust Corporation (RTC)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Household Bank, FSB
Context
On December 14, 1989, regulators closed Yorkridge-Calvert Federal Savings, headquartered in Baltimore, MD. At closing, the institution held approximately $585.8M in assets and $372.2M in deposits. The FDIC record names Household Bank, FSB as the acquiring institution in the resolution. The estimated cost to the Resolution Trust Corporation (RTC) was approximately $40.1M.
By assets at closing this is the 328th largest of the 3,526 bank failures in the FDIC record, and the 59th of 530 in 1989. 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 Yorkridge-Calvert Federal Savings fail?
Yorkridge-Calvert Federal Savings was closed by regulators on December 14, 1989.
Who acquired Yorkridge-Calvert Federal Savings?
The FDIC record names Household Bank, FSB as the acquiring institution in the resolution of Yorkridge-Calvert Federal Savings.
How big was Yorkridge-Calvert Federal Savings when it failed?
Yorkridge-Calvert Federal Savings had approximately $585.8M in total assets and $372.2M in deposits at the time of failure.
Other failures in 1989
| Date | Bank | Assets |
|---|---|---|
| Dec 21, 1989 | Columbia FSA | $77.1M |
| Dec 21, 1989 | Silver Savings Assoc. | $32.2M |
| Dec 20, 1989 | First City National Bank and Trust | $39.5M |
| Dec 20, 1989 | United Community Bank | $32.3M |
| Dec 15, 1989 | First American Bank and Trust | $1.38B |
| Dec 14, 1989 | Louisiana Savings Assn. | $449.3M |
| Dec 14, 1989 | First Acadiana Bank | $46.8M |
| Dec 14, 1989 | Canyon Lake Bank | $31.0M |
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