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1999 Annual Report

Income and Expenses, Savings Association Insurance Fund, by Year, from Beginning of Operations, August 9, 1989, through December 31, 1999

(Dollars in Thousands)

Income

Year

Total

Assessment
Income

Investment
and
Other Sources

Effective
Assessment Rate

Total

$10,808,457

$8,549,567

$2,258,890

1999

600,995

15,116

585,879

0.002%

1998

583,859

15,352

568,507

0.002%

1997

549,912

13,914

535,998

0.004%

1996

5,501,684

5,221,560

280,124

0.204%

1995

1,139,916

970,027

169,889

0.234%

1994

1,215,289

1,132,102

83,187

0.244%

1993

923,516

897,692

25,824

0.250%

1992

178,643

172,079

6,564

0.230%

1991

96,446

93,530

2,916

0.230%

1990

18,195

18,195

0

0.208%

1989

2

0

2

0.208%

(Dollars in Thousands)
Expenses and Losses

Year

Total

Provision
for
Losses

Interest
& Other Ins.
Expenses

Administrative
and Operating Expenses

Funding Transfer from the FSLIC Resolution Fund

Net
Income/
(Loss)

Total

$635,539

$83,825

$1,367

$550,347

$139,498

$10,312,416

1999

124,156

30,648

626

92,882

0

476,839

1998

116,629

31,992

9

84,628

0

467,230

1997

69,986

(1,879)

0

71,865

0

479,926

1996

(28,890)

(91,636)

128

62,618

0

5,530,574

1995

(281,216)

(321,000)

0

39,784

0

1,421,132

1994

434,303

414,000

0

20,303

0

780,986

1993

46,814

16,531

0

30,283

0

876,702

1992

28,982

(14,945)

(5)

43,932

35,446

185,107

1991

63,085

20,114

609

42,362

42,362

75,723

1990

56,088

0

0

56,088

56,088

18,195

1989

5,602

0

0

5,602

5,602

2

FDIC- Insured Institutions Closed During 1999

(Dollars in Thousands)

Name
and Location

Bank Class

Number of Deposit Accounts

Total Assets

Total Deposits

FDIC Disburse- ments

Estimated Loss¹

Date of Closing or Acquisition

Assuming
Bank and location

Bank Insurance Fund

Purchase and Assumption - All Deposits

Victory State Bank
Columbia, SC

NM

1,500

$11,782

$11,082

$11,172

$0

03/26/99

South Carolina Community Bank
Columbia, SC

Zia New Mexico Bank
Tucumcari, NM

SM

1,640

$13,354

$12,604

$12,602

$3,792

04/23/99

First National Bank of New Mexico
Clayton, NM

East Texas National Bank
Marshall, TX

N

2,381

$112,632

$100,470

$109,151

$10,619

07/09/99

Fredonia State Bank Nacogdoches, TX

Peoples National Bank of Commerce Miami, FL

N

5,000

$35,181

$33,558

$33,566

$2,014

09/10/99

Boston Bank of Commerce
Boston, MA

Golden City Commercial Bank
New York, NY

NM

18,146

$88,254

$81,268

$81,233

$0

12/10/99

Cathay Bank, Los Angeles, CA

Purchase and Assumption - Insured Deposits

Pacific Thrift and
Loan Company
Woodland Hills, CA

NM

2,600

$116,756

$107,198

$105,575

$52,000

11/19/99

Affinity Bank 
Ventura, CA

Payout

First National Bank of Keystone
Keystone, WV

N

25,434

$1,045,861

$921,971

$890,132

$770,000

09/01/99

Ameribank, Incorporated  
Welch, WV

Savings Association Insurance Fund

Purchase and Assumption - All Deposits

Oceanmark Bank
North Miami Beach,FL

FSB

2,900

$62,956

$63,427

$62,662

$1,343

07/09/99

Third FS&LA of Florida 
North Miami Beach,FL
Codes for Bank Class: NM = State-chartered bank that is not a member of the Federal Reserve System.

SM = State-chartered bank that is a member of the Federal Reserve System.

N = National Bank

FSB = Federal Savings Bank

¹ Estimated losses are as of 12/31/99. Estimated losses are routinely adjusted with updated information from new appraisals and asset sales, which ultimately affect the asset values and projected recoveries.

Estimated Insured Deposits and the Savings Association Insurance Fund,
December 31, 1989, through December 31, 1999
(Dollars in Millions)

Est. Deposits in Insured Institutions

Insurance Fund as a Percentage of

Year¹

Insurance Coverage

Total Domestic Deposits

Insured² Deposits

Percentage of Insured Deposits

Deposit Insurance Fund

Total Domestic Deposits

Est.
Insured Deposits

1999

$100,000

$764,359

$711,345

93.1

$10,280.7

1.35

1.45

1998

100,000

751,413

708,959

94.4

9,839.8

1.31

1.39

1997

100,000

721,503

690,132

95.7

9,368.3

1.30

1.36

1996

100,000

708,749

683,090

96.4

8,888.4

1.25

1.30

1995

100,000

742,547

711,017

95.8

3,357.8

0.45

0.47

1994

100,000

720,823

692,626

96.1

1,936.7

0.27

0.28

1993

100,000

726,473

695,158

95.7

1,155.7

0.16

0.17

1992

100,000

760,902

729,458

95.9

279.0

0.04

0.04

1991

100,000

810,664

776,351

95.8

93.9

0.01

0.01

1990

100,000

874,738

830,028

94.9

18.2

0.00

0.00

1989

100,000

948,144

882,920

93.1

0.0

0.00

0.00

¹ Starting in 1990, deposits in insured institutions exclude those deposits held by Savings Association Insurance Fund members that are insured by the Bank Insurance Fund and include those deposits held by Bank Insurance Fund members that are insured by the Savings Association Insurance Fund.

² Estimated insured deposits reflect deposit information as reported in the fourth quarter FDIC Quarterly Banking Profile.  Before 1991, insured deposits were estimated using percentages determined from the June 30 Call Reports.

Number, Assets, Deposits, Losses, and Loss to Funds of Insured Thrifts Taken Over or
Closed Because of Financial Difficulties, 1989 through 1999 1

(Dollars in Thousands)

Year2

Total

Assets

Deposits

Estimated
Receivership
Loss 3

Loss to
Funds 4

  Total

750

395,112,638

318,422,840

74,697,436

82,766,593

  1999

1

62,956

63,427

1,343

1,343

  1998

0

0

0

0

0

  1997

0

0

0

0

0

  1996

1

32,576

32,745

21,222

21,222

  1995

2

423,819

414,692

36,213

36,068

  1994

2

136,815

127,508

11,478

14,606

  1993

10

7,178,794

5,708,253

294,547

326,349

  1992

59

44,196,946

34,773,224

3,122,362

3,769,210

  1991

144

78,898,704

65,173,122

8,515,839

9,489,992

  1990

213

129,662,398

98,963,960

16,195,857

19,494,475

  1989 5

318

134,519,630

113,165,909

46,498,575

49,613,328

1 Prior to July 1, 1995, all thrift closings were the responsibility of the Resolution Trust Corporation (RTC). Since the RTC was terminated on December 31, 1995, and all assets and liabilities transferred to the FSLIC Resolution Fund (FRF), all the results of the thrift closing activity from 1989 through 1995 are now reflected on FRF's books. The Savings Association Insurance Fund (SAIF) became responsible for all thrifts closed after June 30, 1995; there have been only two such failures.  Additionally, SAIF was appointed receiver of one thrift (Heartland FSLA) on October 8, 1993, because at that time, RTC's authority to resolve FSLIC-insured thrifts had not yet been extended by the RTC Completion Act.

2 Year is the year of failure, not the year of resolution.

3 The estimated losses represent the projected loss at the fund level from receiverships for unreimbursed subrogated claims of the FRF/SAIF and unpaid advances to receiverships from the FRF.

4 The Loss to Funds represents the total resolution cost of the failed thrifts in the SAIF and FRF-RTC funds, which includes corporate revenue and expense items such as interest expense on Federal Financing Bank debt, interest expense on escrowed funds, and interest revenue on advances to receiverships, in addition to the estimated losses for receiverships.

5 Total for 1989 excludes nine failures of the former FSLIC.