Failed Bank List

Closed Friday, August 14, 2009 · Pittsburgh, Allegheny County, Pennsylvania

Dwelling House Savings and Loan Association

The estimated loss came to 64% of Dwelling House Savings and Loan Association's assets, one of the 30 highest ratios among the 583 failures since 2000. Its founding in 1890 put it past its 100th year when it closed. Its assets had shrunk 41% from their peak in the fourth quarter of 2002 by the last report before closing.

On the books, 2001 to 2009

Total assets and equity capital each quarter before closing, and the estimated lossTotal assetsEquity capitalEstimated loss$0$6M$12M$18M$24M2002200320042005200620072008Closed
Total assets peaked at $21.9 million. Equity capital went from 18% of assets in the third quarter of 2001 to below zero at the last report. The deepest annual loss, $2.6 million, was booked in 2008.
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$3.2M−$3.2M2001: $12 thousand200117%2002: $74 thousand200217%2003: $98 thousand200318%2004: $8 thousand200418%2005: $3 thousand200517%2006: $51 thousand200619%2007: $27 thousand200719%2008: −$2.6 million20085.0%2009: −$2.0 million2009*neg.
* 2009: January to June only, the last report before closing.

Size against the other 2009 failures

Total assets of the 140 banks that failed in 2009, log scale$10M$100M$1B$10B$100B
Total assets of each 2009 failure, log scale; Dwelling House Savings and Loan Association in red.

By assets it ranked 140th of the 140 failures in 2009. Within Pennsylvania it ranks 34th by size of the 67 failures recorded since 1934. Across the failures of 2009, the median estimated loss came to 27% of assets. The next-larger failure of that year was Home Federal Savings Bank of Detroit, Michigan ($13.0 million, loss 66% of assets). Every 2009 failure in the explorer.

Regulators closed five banks that day. The largest of the others was Colonial Bank of Montgomery, Alabama, at $25.5 billion.

Failures in Pennsylvania

No other Pennsylvania bank failed in 2009. The previous failure there was Metropolitan Savings Bank of Pittsburgh, on February 2, 2007. The next was Allegiance Bank of North America of Bala Cynwyd, on November 19, 2010. Allegheny County has 7 failed banks on FDIC record since 1934. Closest in time: Concord-Liberty Savings and Loan Association (1989), Vanguard Federal Savings Bank (1990), First Federal Savings and Loan Association of Pittsburgh (1991), First Home Savings Association (1992), Metropolitan Savings Bank (2007).

Bank failures in Pennsylvania per year, 1980 to 2026024681987: 11989: 41990: 41991: 71992: 61996: 12003: 12007: 12009: 12010: 22011: 12012: 22014: 12016: 12024: 12026: 119801990200020102020
Per year since 1980, 2009 in red. Every Pennsylvania failure

FDIC certificate 31559 · loss estimate as of July 31, 2026 · How to read this page