Failed Bank List

Closed Thursday, September 19, 1991 · Miami, Miami-Dade County, Florida

Southeast Bank, National Association

By total assets Southeast Bank, National Association is the 15th-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 second-largest of the 268 bank failures in 1991. Of the 179 failed banks on record in Florida since 1934, it ranks second by size.

On the books, 1984 to 1991

Total assets and equity capital each quarter before closing, and the estimated lossTotal assetsEquity capitalEstimated loss$0$5B$10B$15B$20B198519861987198819891990Closed
Total assets peaked at $16.7 billion in the first quarter of 1990 and were 34% lower at the final report. Equity capital went from 5.4% of assets in the first quarter of 1984 to 3.4% at the last report. The deepest annual loss, $251 million, was booked in 1991 in only part of the year.
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$320M−$320M1984: $58.1 million19845.0%1985: $59.6 million19854.8%1986: $84.8 million19864.9%1987: $48.8 million19874.8%1988: $135 million19884.3%1989: $94.0 million19894.9%1990: −$172 million19904.8%1991: −$251 million1991*3.4%
* 1991: January to June only, the last report before closing.

Size against the other 1991 failures

Total assets of the 268 banks that failed in 1991, log scale$1M$10M$100M$1B$10B$100B
Total assets of each 1991 failure, log scale; Southeast Bank in red.

In the size ranking of that year, just above it was Bank of New England, National Association of Boston, Massachusetts ($13.4 billion, loss 4.3% of assets); just below, Goldome of Buffalo, New York ($9.9 billion, loss 7.9% of assets). Every 1991 failure in the explorer.

Two other banks closed that day; the largest was Abraham Lincoln Federal Savings Bank of Dresher, Pennsylvania, at $189 million.

Failures in Florida

In 1991 regulators closed 23 banks in Florida; this was the 16th. The previous failure there was Bay Savings Bank of West Palm Beach, on September 6, 1991. The next was The First, Federal Association of Orlando, on October 11, 1991. Miami-Dade County has 36 failed banks on FDIC record since 1934. Closest in time: Amerifirst Bank, A FSB (1991), New Metropolitan Federal Savings and Loan Association (1991), The Private Bank & Trust, National Association (1991), First National Bank of Miami (1991), Flagler Federal Savings and Loan Association (1992).

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, 1991 in red. Every Florida failure

FDIC certificate 3575 · loss estimate as of July 31, 2026 · How to read this page