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2001 Annual Report


Key Statistics

Income and Expenses, Savings Association Insurance Fund, by Year,
from Beginning of Operations, August 9, 1989, through December 31, 2001
Dollars in Thousands
Year Total Assessment
Income
Investment and
Other Sources
Effective
Assessment Rate
Total $12,205,658 $8,604,206 $3,601,452  
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%

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 $1,499,640 $707,733 $29,049 $762,858 $139,498 $10,845,516
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 2001
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 Assuming Bank and Location
Purchase and Assumption - All Deposits
First Alliance Bank & Trust Company
Manchester, NH
NM 1,100 $16,805 $16,289 $16,290 $565 02/02/01 Southern New Hampshire Bank & Trust Co.
Salem, NH
Malta National Bank
Malta, OH
N 1,462 $9,279 $8,746 $8,685 $728 05/03/01 North Valley Branch
Zanesville, OH
Purchase and Assumption - Insured Deposits
Sinclair National Bank
Gravette, AR
N 1,082 $28,386 $24,891 $24,556 $3,400 09/07/01 Delta Trust
& Bank
Parkdale, AR
Savings Association Insurance Fund
Purchase and Assumption—All Deposits
Superior Bank, FSB
Hinsdale, IL
SB 91,392 $2,179,783 $1,670,802  $1,022,000 $440,000 07/27/01 Charter One Bank, FSB
Cleveland, OH
Codes for Bank Class:
NM = State-chartered bank that is not a member of the Federal Reserve System
N = National Bank
SB = Savings Bank

1 Estimated losses are as of December 31, 2001. 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, 2001
 
  Deposits in Insured Institutions (Dollars in Millions) Insurance Fund as a Percentage of
Year 1 Insurance Coverage Total
Domestic
Deposits
Est.
Insured Deposits 2
Percentage
of Insured
Deposits
Deposit
Insurance
Fund
Total
Domestic
Deposits
Est.
Insured
Deposits
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 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, and Loss to Funds of Insured Thrifts Taken Over
or Closed Because of Financial Difficulties, 1989 through 2001 1
Dollars in Thousands
Year 2 Total Assets Deposits Estimated
Receivership Loss 3
Loss to Funds 4
Total 752 $ 396,291,119 $ 319,295,433 $ 75,090,665 82,290,827
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 4,881,461 281,381 171,017
1992 59 44,196,946 34,773,224 3,101,879 3,684,705
1991 144 78,898,704 65,173,122 8,450,564 9,132,202
1990 213 129,662,398 98,963,960 16,057,760 19,255,388
1989 5 318 134,519,630 113,165,909 46,695,450 49,541,199
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 four 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.



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