Data / Bank failures / 1989 / Gibraltar S & L Assoc.
Gibraltar S & L Assoc., Annapolis, MD: failed March 2, 1989
Gibraltar S & L Assoc. in Annapolis, Maryland, failed on March 2, 1989. Annapolis NB of Annapolis, MD, took over its deposits. It held $71.8 million in assets and $71.3 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $7.5 million (10.4% of its assets). By assets it was the 265th largest of 534 banks closed or assisted in 1989.
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The FDIC's record
- Closed
- March 2, 1989
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Annapolis NB, Annapolis, MD
- Total assets
- $71,820,000
- Total deposits
- $71,343,000
- Estimated cost to the FDIC
- $7,488,792 (estimate as of July 31, 2026)
- Charter
- Savings bank
- Insurance fund
- RTC
- FDIC certificate
- 32450
Other bank failures in Maryland, 1987 to 1991
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| The Washington Bank (of Maryland) | Baltimore | May 10, 1991 | $39 million | $39 million | $968,346 | The First National Bank of |
| John Hanson FSB | Beltsville | April 26, 1991 | $840.7 million | $658.6 million | $147.7 million | |
| Augusta Fsa | Baltimore | April 26, 1991 | $151.3 million | $132.6 million | $5.6 million | |
| Republic SB, FSB | Rockville | March 22, 1991 | $26.4 million | $26.5 million | $8.4 million | First FSB of de |
| Royal Oak FS & La | Randallstown | January 4, 1991 | $27.3 million | $29.2 million | $2,073 | Royal Oak SB, FSB |
| First Annapolis Savings | Annapolis | June 1, 1990 | $720.1 million | $618.3 million | $176.9 million | |
| Liberty Savings Bank FSB | Randallstown | February 9, 1990 | $49.5 million | $42 million | $15.3 million | Royal Oak SB, Fsa |
| Vermont Sa | Timonium | February 9, 1990 | $334.9 million | $254.3 million | $41.9 million | First NB of MD |
All bank failures in 1989 · All bank failures in Maryland · The full failed bank list
Read from the FDIC's failures data (BankFind), last updated 2026-10-24. 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.