Data / Bank failures / 1990 / Heritage Savings Bank, FSB
Heritage Savings Bank, FSB, Richmond, VA: failed October 19, 1990
Heritage Savings Bank, FSB in Richmond, Virginia, failed on October 19, 1990. CRFC Interim SB (crestar Ba of Richmond, VA, took over its deposits. It held $888.8 million in assets and $726.2 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $124.2 million (14% of its assets). By assets it was the 36th largest of 382 banks closed or assisted in 1990.
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The FDIC's record
- Closed
- October 19, 1990
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- CRFC Interim SB (crestar Ba, Richmond, VA
- Total assets
- $888,751,000
- Total deposits
- $726,199,000
- Estimated cost to the FDIC
- $124,236,879 (estimate as of July 31, 2026)
- Charter
- Savings bank
- Insurance fund
- RTC
- FDIC certificate
- 31518
Other bank failures in Virginia, 1988 to 1992
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| 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 |
| Vista Fsa | Reston | February 28, 1992 | $113.2 million | $108.7 million | $36.9 million | Eastern American Bank, FSB |
All bank failures in 1990 · 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.