Data / Bank failures / 1990 / Centrust Bank, SB
Centrust Bank, SB, Miami, FL: failed February 2, 1990
Centrust Bank, SB in Miami, Florida, failed on February 2, 1990. Great Western Bank, FSB of Beverly Hills, CA, took over its deposits. It held $8.22 billion in assets and $5.89 billion in deposits at its last report. The FDIC estimates the cost to its insurance fund at $672.2 million (8.2% of its assets). By assets it was the 3rd largest of 382 banks closed or assisted in 1990.
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The FDIC's record
- Closed
- February 2, 1990
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Great Western Bank, FSB, Beverly Hills, CA
- Total assets
- $8,217,563,000
- Total deposits
- $5,894,019,000
- Estimated cost to the FDIC
- $672,161,096 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- RTC
- FDIC certificate
- 29000
Other bank failures in Florida, 1988 to 1992
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Palm Beach Fsa | Palm Beach Garden | December 8, 1992 | $59.4 million | $54.4 million | $20.9 million | Southbank, A FSB |
| Jacksonville Fsa | Jacksonville | June 26, 1992 | $150.9 million | $147.5 million | $25.3 million | First Union NB of FL |
| Security First FS & La | Daytona Beach | April 10, 1992 | $1.01 billion | $904.2 million | $24.1 million | First Union NB of FL |
| Flagler FS & La | Miami | March 27, 1992 | $1.60 billion | $1.49 billion | $101.6 million | First Union NB of FL |
| National City Bank | Coral Springs | February 21, 1992 | $19 million | $18.6 million | $2.6 million | Intercontinental Bank |
| United Savings of America, FA | Melbourne | February 7, 1992 | $327.2 million | $293.4 million | $15.4 million | Barnett Bank of Central FL |
| Merchants National Bank | Fort Myers | February 7, 1992 | $35.1 million | $35.3 million | $5.2 million | Founders National Trust |
| Security Fsa | Panama City | January 31, 1992 | $107.1 million | $100.4 million | $16 million |
Other failed banks Great Western Bank, FSB took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| The First, Federal Association | Orlando | FL | October 11, 1991 | $1.07 billion | $960.8 million | $148 million | Great Western Bank, FSB |
| Amerifirst Federal Savings | Miami | FL | March 15, 1991 | $3.58 billion | $2.87 billion | $557.5 million | Great Western Bank, FSB |
| Pioneer Savings Bank, FSB | Clearwater | FL | February 2, 1990 | $1.94 billion | $1.42 billion | $217.2 million | Great Western Bank, FSB |
| Lincoln Savings & Loan | Irvine | CA | April 14, 1989 | $4.86 billion | $4.19 billion | $3.14 billion | Great Western Bank, FSB |
All bank failures in 1990 · All bank failures in Florida · Every failed bank Great Western Bank, FSB took over · 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.