Failed Bank List

Closed Friday, February 16, 1990 · Ottawa, Franklin County, Kansas

Franklin Savings Association

By total assets Franklin Savings Association is the 22nd-largest of the 3,375 bank failures since 1934 for which the FDIC records a size, counted in dollars of the day. No failed bank in Kansas was larger, of 114 on record there since 1934. Regulators closed eight banks that day.

On the books, 1984 to 1989

Total assets and equity capital each quarter before closing, and the estimated lossTotal assetsEquity capitalEstimated loss$0$2.5B$5B$7.5B$10B19851986198719881989Closed
Total assets peaked at $9.5 billion in the third quarter of 1989. In the three years to the third quarter of 1989, its assets grew 151%. Equity capital went from 1.2% of assets in the first quarter of 1984 to 4.2% at the last report. By then 14% of its loans were 90 days or more past due or no longer accruing interest. The deepest annual loss, $29.2 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$120M−$120M1984: $16.6 million19841.7%1985: $35.4 million19852.8%1986: $120 million19866.8%1987: $89.9 million19875.3%1988: $56.9 million19885.2%1989: −$29.2 million19894.2%

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; Franklin Savings Association in red.

It was the second-largest of the 381 bank failures in 1990. In the size ranking of that year, just above it was Imperial Savings Association of San Diego, California ($9.6 billion, loss 2.1% of assets); just below, Centrust Bank, A State Savings Bank of Miami, Florida ($8.2 billion, loss 8.2% of assets). Every 1990 failure in the explorer.

The largest of the others was Great American Federal Savings and Loan Association of Oak Park, Illinois, at $1.0 billion.

Failures in Kansas

It was one of four banks in Kansas to fail in 1990. The previous failure there was Colonial Savings, A FA of Prairie Village, on January 18, 1990. The next was The Hiawatha Savings and Loan Association of Hiawatha, on March 9, 1990. No other failed bank in the FDIC's records was based in Franklin County.

Bank failures in Kansas per year, 1980 to 2026061218241980: 31982: 11983: 11984: 71985: 131986: 141987: 101988: 61989: 211990: 41991: 31992: 31993: 32008: 12009: 32010: 32011: 12012: 12017: 12020: 12023: 12026: 119801990200020102020
Per year since 1980, 1990 in red. Every Kansas failure

FDIC certificate 30311 · loss estimate as of July 31, 2026 · How to read this page