Failed Bank List

Closed Wednesday, February 21, 1990 · Portland, Multnomah County, Oregon

The BENJ. Franklin Federal Savings and Loan Association

By total assets The BENJ. Franklin Federal Savings and Loan Association is the 44th-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 Oregon was larger, of 31 on record there since 1934. Equity capital was below zero at its last report.

On the books, 1984 to 1989

Total assets and equity capital each quarter before closing, and the estimated lossTotal assetsEquity capitalEstimated loss$0$1.5B$3B$4.5B$6B19851986198719881989Closed
Total assets peaked at $5.5 billion in the fourth quarter of 1988 and were 16% lower at the final report. Equity capital had covered 3.7% of assets in the first quarter of 1984. The deepest annual loss, $377 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$400M−$400M1984: $4.6 million19843.6%1985: $8.1 million19853.8%1986: $27.9 million19865.1%1987: $17.4 million19874.7%1988: $17.1 million19884.5%1989: −$377 million1989neg.

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; The BENJ. Franklin Federal Savings and Loan Association in red.

By assets it ranked eighth of the 381 failures in 1990. In the size ranking of that year, just above it was Atlantic Financial Federal of Bala Cynwyd, Pennsylvania ($5.3 billion, loss 18% of assets); just below, Santa Barbara Savings and Loan Association of Santa Barbara, California ($4.3 billion, loss under 0.1% of assets). Every 1990 failure in the explorer.

Failures in Oregon

It was one of two banks in Oregon to fail in 1990. The previous failure there was Family Federal Savings and Loan Association of Dallas, on January 11, 1990. The next was Far West Federal Bank, S. B. of Portland, on May 23, 1991. Multnomah County has 4 failed banks on FDIC record since 1934. The others: Columbia Pacific Bank & Trust Company (1983), Stewardship Bank of Oregon (1984), Far West Federal Bank, S. B. (1991).

Bank failures in Oregon per year, 1980 to 2026023461981: 21983: 41984: 51985: 41986: 11987: 31988: 11990: 21991: 12009: 32010: 319801990200020102020
Per year since 1980, 1990 in red. Every Oregon failure

FDIC certificate 28220 · loss estimate as of July 31, 2026 · How to read this page