Data / Bank failures / 1989 / Horizon Financial, FA
Horizon Financial, FA, Southampton, PA: failed June 8, 1989
Horizon Financial, FA in Southampton, Pennsylvania, failed on June 8, 1989. It held $2.49 billion in assets and $1.80 billion in deposits at its last report. The FDIC estimates the cost to its insurance fund at $305.9 million (12.3% of its assets). By assets it was the 13th largest of 534 banks closed or assisted in 1989.
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The FDIC's record
- Closed
- June 8, 1989
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- None, NA
- Total assets
- $2,492,405,000
- Total deposits
- $1,797,508,000
- Estimated cost to the FDIC
- $305,924,854 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- RTC
- FDIC certificate
- 29830
Other bank failures in Pennsylvania, 1987 to 1991
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Chase Savings & Loan | Philadelphia | November 22, 1991 | $46.9 million | $46 million | $10.4 million | United Bank of Philadelphia |
| Abraham Lincoln Fsa | Dresher | September 19, 1991 | $189.1 million | $167 million | $10.1 million | |
| Homestead Fsa | Middletown | August 30, 1991 | $223.2 million | $181 million | $17.5 million | Farmers Trust Co. |
| Springfield Fsla | Springfield | June 14, 1991 | $97.5 million | $95.3 million | $-550,716 | Germantown SB |
| Bell Federal Savings | Upper Darby | March 15, 1991 | $850.6 million | $734 million | $197.3 million | Meridian Bank |
| Peoples Federal S & L Assoc. | New Kensington | March 1, 1991 | $107.6 million | $98.6 million | $2.5 million | Johnstown B&TC |
| First FS & La of Pittsburg | Pittsburgh | January 4, 1991 | $3.09 billion | $2.34 billion | $96 million | PNC Interim FSB |
| Heritage Fsa | Lancaster | July 6, 1990 | $48.8 million | $50.6 million | $1,185 | Harris Sa |
All bank failures in 1989 · All bank failures in Pennsylvania · 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.