Failed Bank List

15 failures · $1.6 billion in assets

Bank failures in 1994

15 insured banks failed in 1994, down from 50 in 1993. Together they reported $1.6 billion in assets, and the FDIC's estimated loss on them is $191 million. The largest was The Bank of Hartford, Inc. of Hartford, Connecticut, at $321 million. The costliest for the insurance fund was Mechanics National Bank, at an estimated $47.7 million. California led with 10 failures, ahead of Massachusetts with 2.

Week by week

  • $1 billion or more
  • $100 million to $1 billion
  • under $100 million
Bank failures in 1994 by week of closingMechanics National Bank, 1994-04-01Superior National Bank, 1994-04-14Commercial Bank and Trust Company, 1994-05-06Barbary Coast National Bank, 1994-05-19Encino Savings Bank, FSB, 1994-06-03The Bank of Hartford, Inc., 1994-06-10Pioneer Bank, 1994-07-08The Meriden Trust and Safe Deposit Company, 1994-07-07Bank of San Pedro, 1994-07-15CommerceBank, 1994-07-29Western Community Bank, 1994-07-29Bank of Newport, 1994-08-12Capital Bank, 1994-08-26Ludlow Savings Bank, 1994-10-21Cornerstone Bank, FSB, 1994-12-16JanFebMarAprMayJunJulAugSepOctNovDec
One square per failed bank, stacked in the week it closed. 80% of these closings fell on a Friday. The median estimated loss was 9.9% of a failed bank's assets.

Where they failed

Failures by state in 1994: California 10, Massachusetts 2, Connecticut 2, Missouri 1.

Explore

Filter and sort the 1994 failures by state, size or loss. Other years: 1993 · 1995.

All 15 failures in 1994, in closing order
ClosedBankLocationTotal assetsEst. loss
April 1, 1994Mechanics National BankParamount, CA$149 million$47.7 million
April 14, 1994Superior National BankKansas City, MO$20.0 million$3.7 million
May 6, 1994Commercial Bank and Trust CompanyLowell, MA$30.3 million$3.7 million
May 19, 1994Barbary Coast National BankSan Francisco, CA$10.7 million$684 thousand
June 3, 1994Encino Savings Bank, FSBEncino, CA$92.5 million$7.4 million
June 10, 1994The Bank of Hartford, Inc.Hartford, CT$321 million$13.8 million
July 7, 1994The Meriden Trust and Safe Deposit CompanyMeriden, CT$3.2 millionnone
July 8, 1994Pioneer BankFullerton, CA$133 million$14.5 million
July 15, 1994Bank of San PedroLos Angeles, CA$133 million$28.8 million
July 29, 1994CommerceBankNewport Beach, CA$142 million$14.1 million
July 29, 1994Western Community BankCorona, CA$54.0 million$2.6 million
August 12, 1994Bank of NewportNewport Beach, CA$168 million$28.7 million
August 26, 1994Capital BankDowney, CA$76.9 million$17.8 million
October 21, 1994Ludlow Savings BankLudlow, MA$223 million$2.9 million
December 16, 1994Cornerstone Bank, FSBMission Viejo, CA$44.3 million$4.0 million