Data / Bank failures / 1990 / Creditbank
Creditbank, Cutler Ridge, FL: failed January 26, 1990
Creditbank in Cutler Ridge, Florida, failed on January 26, 1990. Capital Bank of Miami, FL, took over its deposits. It held $76.4 million in assets and $74.1 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $15.7 million (20.6% of its assets). By assets it was the 176th largest of 382 banks closed or assisted in 1990.
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The FDIC's record
- Closed
- January 26, 1990
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Capital Bank, Miami, FL
- Total assets
- $76,437,000
- Total deposits
- $74,090,000
- Estimated cost to the FDIC
- $15,743,723 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- BIF
- FDIC certificate
- 19273
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 Capital Bank took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Garden Grove Community Bank | Garden Grove | CA | June 1, 1984 | $43.9 million | $41.1 million | $5.4 million | Capital Bank |
| All American National Bank | Virgina Gardens | FL | March 2, 1984 | $13.9 million | $12 million | $3.1 million | Capital Bank |
All bank failures in 1990 · All bank failures in Florida · Every failed bank Capital Bank 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.