Income and Expenses,
Savings Association Insurance Fund, by Year,
from Beginning of Operations, August 9, 1989, through December 31, 2002 |
Dollars in Thousands |
Income |
Year |
Total |
Assessment
Income |
Investment
and
Other Sources |
Effective
Assessment Rate |
Total |
$12,794,479 |
$8,627,989 |
$4,166,490 |
|
2002 |
588,821 |
23,783 |
565,038
|
0.003% |
2001 |
733,121 |
35,402 |
697,719 |
0.004% |
2000 |
664,080 |
19,237 |
644,843 |
0.002% |
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% |
Expenses
and Losses |
Year |
Total |
Provision
for
Losses |
Interest
and Other Insur. Expenses |
Administrative
and Operating Expenses |
Funding
Transfer from the FSLIC Resolution Fund |
Net Income/(Loss) |
Total |
$1,468,260 |
$551,239 |
$29,800 |
$887,221 |
$139,498 |
$11,465,717 |
2002 |
(31,380) |
(156,494) |
751 |
124,363 |
0 |
620,201 |
2001 |
564,083 |
443,103 |
19,389 |
101,591 |
0 |
169,038 |
2000 |
300,018 |
180,805 |
8,293 |
110,920 |
0 |
364,062 |
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 2002 |
Dollars in Thousands |
Name and Location |
Bank Class |
Number of
Deposit Accounts |
Total Assets |
Total Deposits |
FDIC
Disburse-
ments |
Estimated
Loss 1
| Date of Closing
or Acquisition |
Receiver/Assuming Bank and Location |
Bank
Insurance Fund |
Insured Deposit Payouts
|
Hamilton Bank, NA Miami, FL |
N |
29,540 |
$1,231,646 |
$1,081,788 |
$1,028,668 |
$171,500 |
01/11/02 |
Israel Discount Bank of New York
New York, NY |
NextBank, NA Phoenix, AZ |
N |
4,017 |
$668,681 |
$502,858 |
$548,511 |
$300,000-$350,000 |
02/07/02 |
Federal Deposit Insurance Corp |
New Century Bank Shelby Township, MI |
SM |
687 |
$18,714 |
$17,954 |
$17,372 |
$6,300 |
03/28/02 |
Federal Deposit Insurance Corp |
AmTrade Inter. Bank of Georgia Atlanta, GA |
SM |
1,223 |
$9,620 |
$10,595 |
$7,195 |
$7,400 |
09/30/02 |
Federal Deposit Insurance Corp |
Bank of Alamo Alamo, TN |
NM |
6,295 |
$59,818 |
$50,066 |
$59,208 |
$3,300 |
11/08/02 |
Federal Deposit Insurance Corp |
Purchase and Assumption - Insured Deposits |
The Farmers Bank & Trust of Cheneyville Cheneyville, LA |
NM |
2,587 |
$35,424 |
$32,954 |
$29,659 |
$10,600 |
12/17/02 |
Sabine State Bank and Trust Company Many, LA |
Insured Deposit Transfer - Asset Purchase
|
Bank of Sierra Blanca Sierra Blanca, TX |
NM |
1,277 |
$10,536 |
$10,720 |
$10,718 |
$4,337 |
01/18/02 |
The Security State Bank of Pecos
Pecos, TX |
Oakwood Deposit Bank Company Oakwood, OH |
SM |
7,336 |
$61,607 |
$118,862 |
$116,221 |
$61,862 |
02/01/02 |
The State Bank and Trust Company Defiance, OH |
Net First National Bank Boca Raton, FL |
N |
1,457 |
$32,861 |
$28,830 |
$28,693 |
$0 |
03/01/02 |
Bank Leumi USA New York, NY |
Connecticut Bank of Commerce Stamford, CT |
NM |
18,381 |
$378,658 |
$269,874 |
$259,165 |
$63,000 |
06/26/02 |
Hudson United Bank Mahwah, NJ |
Savings
Association Insurance Fund |
Insured Deposit Transfer - Asset Purchase |
Universal Federal Savings Bank Chicago, IL |
SA |
5,370 |
$50,246 |
$50,542 |
$37,021 |
$1,497 |
06/27/02 |
Chicago Community Bank Chicago, IL |
Codes for Bank Class:
NM = State-chartered bank that is not a member of the Federal Reserve System
N = National bank
SA = Savings association
SM = State-chartered bank that is a member of the Federal Reserve System
1 Estimated losses are as of 12/31/02. 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 September 30, 2002 1 |
|
|
Deposits
in Insured Institutions (Dollars in Millions) |
Insurance
Fund as a Percentage of |
Year 2 |
Insurance Coverage |
Total
Domestic
Deposits |
Estimated
Insured Deposits 3 |
Percentage
of Insured
Deposits |
Deposit
Insurance
Fund |
Total
Domestic
Deposits |
Estimated
Insured
Deposits |
2002 |
$100,000 |
$958,935 |
$837,591 |
87.3 |
$11,585.8 |
1.21 |
1.38 |
2001 |
100,000 |
897,278 |
801,849 |
89.4 |
10,935.0 |
1.22 |
1.36 |
2000 |
100,000 |
822,610 |
752,756 |
91.5 |
10,758.6 |
1.31 |
1.43 |
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 For 2002, the numbers are as of September 30, and prior years reflect December 31.
2 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.
3 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, and Losses to Funds of Insured Thrifts Taken Over
or Closed Because of Financial Difficulties, 1989 through 2002 1 |
Dollars in Thousands |
Year
2 |
Total |
Assets |
Deposits |
Estimated
Receivership Loss 3 |
Loss to
Funds 4 |
Total |
753 |
396,341,365 |
319,345,975 |
75,048,291 |
82,155,438 |
2002 |
1 |
50,246 |
50,542 |
1,497 |
1,497 |
2001 |
1 |
2,179,783 |
1,670,802 |
440,000 |
440,000 |
2000 |
1 |
29,530 |
28,583 |
1,402 |
1,402 |
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 |
28,192 |
27,750 |
1994 |
2 |
136,815 |
127,508 |
11,472 |
14,599 |
1993 |
10 |
6,147,962 |
4,881,461 |
279,494 |
144,196 |
1992 |
59 |
44,196,946 |
34,773,224 |
3,102,343 |
3,676,057 |
1991 |
144 |
78,898,704 |
65,173,122 |
8,436,998 |
9,082,403 |
1990 |
213 |
129,662,398 |
98,963,960 |
16,034,438 |
19,230,580 |
1989
5 |
318 |
134,519,630 |
113,165,909 |
46,689,890 |
49,514,389 |
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 five 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. |
|