Failed Bank List

Closed Friday, February 2, 1990 · Miami, Miami-Dade County, Florida

Centrust Bank, A State Savings Bank

By total assets Centrust Bank, A State Savings Bank is the 23rd-largest of the 3,375 bank failures since 1934 for which the FDIC records a size, counted in dollars of the day. It was the third-largest of the 381 bank failures in 1990. Of the 179 failed banks on record in Florida since 1934, it ranks third by size.

On the books, 1984 to 1989

Total assets and equity capital each quarter before closing, and the estimated lossTotal assetsEquity capitalEstimated loss$0$3B$6B$9B$12B19851986198719881989Closed
Total assets peaked at $10.2 billion in the first quarter of 1989 and were 19% lower at the final report. Equity capital went from 5.2% of assets in the first quarter of 1984 to 2.2% at the last report. The deepest annual loss, $152 million, was booked in 1989.
Net income in each reporting year before closing, with equity capital as a share of assets at year endNet income per yearEquity to assets at year end$160M−$160M1984: $22.8 million19843.1%1985: $47.0 million19854.0%1986: $48.2 million19865.1%1987: $77.5 million19875.0%1988: $14.8 million19883.6%1989: −$152 million19892.2%

Size against the other 1990 failures

Total assets of the 381 banks that failed in 1990, log scale$1M$10M$100M$1B$10B
Total assets of each 1990 failure, log scale; Centrust Bank, A State Savings Bank in red.

Ranked by estimated loss, it is 59th of 2,944 failures since 1934. In the size ranking of that year, just above it was Franklin Savings Association of Ottawa, Kansas ($9.3 billion, loss 0.4% of assets); just below, Empire of America FSB of Buffalo, New York ($8.2 billion, loss 15% of assets). Every 1990 failure in the explorer.

Regulators closed seven banks that day. The largest of the others was Pioneer Savings Bank of Clearwater, Florida, at $1.9 billion.

Failures in Florida

In 1990 regulators closed 21 banks in Florida; this was the third. The previous failure there was Creditbank of Cutler Ridge, on January 26, 1990. The next was Haven Federal Savings and Loan Association of Winter Haven, on March 2, 1990. Miami-Dade County has 36 failed banks on FDIC record since 1934. Closest in time: General Bank, A Federal Savings Bank (1989), Orange State Bank (1989), Creditbank (1990), Miami National Bank (1990), Imperial Bank (1990).

Bank failures in Florida per year, 1980 to 2026081624321980: 11982: 11984: 21985: 31986: 51987: 61988: 51989: 191990: 211991: 231992: 91993: 11999: 22002: 22004: 12008: 22009: 142010: 292011: 132012: 82013: 42014: 12015: 12020: 119801990200020102020
Per year since 1980, 1990 in red. Every Florida failure

FDIC certificate 29000 · loss estimate as of July 31, 2026 · How to read this page