Data / Bank failures / 1991 / Coreast FSB
Coreast FSB, Richmond, VA: failed February 1, 1991
Coreast FSB in Richmond, Virginia, failed on February 1, 1991. It held $1.21 billion in assets and $993.2 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $210.8 million (17.4% of its assets). By assets it was the 22nd largest of 271 banks closed or assisted in 1991.
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The FDIC's record
- Closed
- February 1, 1991
- Type
- Failure
- How it was resolved
- Purchase and assumption of the insured deposits only
- Acquirer
- None, NA
- Total assets
- $1,209,981,000
- Total deposits
- $993,237,000
- Estimated cost to the FDIC
- $210,818,722 (estimate as of July 31, 2026)
- Charter
- Savings bank
- Insurance fund
- RTC
- FDIC certificate
- 31654
Other bank failures in Virginia, 1989 to 1993
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| New Atlantic Bank, NA | Norfolk | August 12, 1993 | $15.1 million | $14.4 million | $792,379 | Bank of Hampton Roads |
| Sailors & Merchants B&T Co. | Vienna | December 11, 1992 | $34.8 million | $34.5 million | $5 million | First Union Bank of Virg |
| Peidmont Fsa | Manassas | October 9, 1992 | $444.6 million | $370.1 million | $75.6 million | Crestar Bank |
| The Washington Bank | Fairfax County | September 18, 1992 | $28.1 million | $27.9 million | $5.1 million | George Mason Bank |
| Liberty FSB | Warrenton | July 17, 1992 | $92 million | $86.9 million | $12.3 million | Jefferson NB |
| Home FSB | Norfolk | July 10, 1992 | $224.2 million | $195.2 million | $42.8 million | Home SB, FSB |
| Federal Sa of Virginia | Falls Church | April 10, 1992 | $31.5 million | $29.6 million | $14.5 million | Fairfax B&TC |
| Commonwealth FSB | Manassas | April 3, 1992 | $72.5 million | $64.8 million | $16.4 million | Fairfax B&TC |
All bank failures in 1991 · All bank failures in Virginia · 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.