Data / Bank failures / 1990 / American FSB
American FSB, Sanford, ME: failed January 11, 1990
American FSB in Sanford, Maine, failed on January 11, 1990. It held $51.8 million in assets and $39.8 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $14.2 million (27.5% of its assets). By assets it was the 217th largest of 382 banks closed or assisted in 1990.
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The FDIC's record
- Closed
- January 11, 1990
- Type
- Failure
- How it was resolved
- Insured deposit transfer: the insured deposits moved to another bank
- Acquirer
- None, NA
- Total assets
- $51,797,000
- Total deposits
- $39,793,000
- Estimated cost to the FDIC
- $14,228,430 (estimate as of July 31, 2026)
- Charter
- Savings bank
- Insurance fund
- RTC
- FDIC certificate
- 28340
Other bank failures in Maine, 1988 to 1992
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| First Fsa | Lewiston | May 21, 1992 | $83 million | $76.3 million | $11.8 million | Kingfield SB |
| Maine Savings Bank | Portland | February 1, 1991 | $1.18 billion | $1.19 billion | $184.2 million | Fleet Bank of Maine |
| Maine National Bank | Portland | January 6, 1991 | $1.05 billion | $944.7 million | New Maine National Bank |
All bank failures in 1990 · All bank failures in Maine · The full failed bank list
Read from the FDIC's failures data (BankFind), last updated 2026-10-23. Assets and deposits are as of the last report before failure; the estimated cost is the FDIC's latest estimate of the loss to its insurance fund and changes as the receivership winds down. Free to reuse with credit to SpecStream under CC BY 4.0.