Failed Bank List

6 failures ยท $233 million in assets

Bank failures in 1996

Six insured banks failed in 1996, down from 8 in 1995. Together they reported $233 million in assets, and the FDIC's estimated loss on them is $60.6 million. The largest was The First National Bank of the Panhandle of Panhandle, Texas, at $68.1 million. The costliest for the insurance fund was Union Federal Bank, A federal savings bank, at an estimated $21.9 million.

Week by week

  • $1 billion or more
  • $100 million to $1 billion
  • under $100 million
Bank failures in 1996 by week of closingMetrobank of Philadelphia National Association, 1996-03-08Peoples Bank and Trust, 1996-05-31The First National Bank of the Panhandle, 1996-06-14Fairfield First Bank & Trust Company, 1996-07-12Union Federal Bank, A federal savings bank, 1996-08-09Commonwealth Thrift and Loan, 1996-08-16JanFebMarAprMayJunJulAugSepOctNovDec
One square per failed bank, stacked in the week it closed. 100% of these closings fell on a Friday. The median estimated loss was 22% of a failed bank's assets.

Where they failed

Failures by state in 1996: Texas 2, California 2, Pennsylvania 1, Connecticut 1.

Explore

Filter and sort the 1996 failures by state, size or loss. Other years: 1995.

All 6 failures in 1996, in closing order
ClosedBankLocationTotal assetsEst. loss
March 8, 1996Metrobank of Philadelphia National AssociationPhiladelphia, PA$40.4 million$7.7 million
May 31, 1996Peoples Bank and TrustBorger, TX$22.7 million$3.4 million
June 14, 1996The First National Bank of the PanhandlePanhandle, TX$68.1 million$16.3 million
July 12, 1996Fairfield First Bank & Trust CompanySouthport, CT$57.3 million$5.7 million
August 9, 1996Union Federal Bank, A federal savings bankLos Angeles, CA$32.6 million$21.9 million
August 16, 1996Commonwealth Thrift and LoanTorrance, CA$11.5 million$5.6 million