Data / Bank failures / 1987 / McNulty Banking Company
McNulty Banking Company, ST. Petersburg, FL: failed August 14, 1987
McNulty Banking Company in ST. Petersburg, Florida, failed on August 14, 1987. Barnett BK of Pinellas C of ST. Petersburg, FL, took over its deposits. It held $56.6 million in assets and $53.2 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $6.8 million (12% of its assets). By assets it was the 77th largest of 262 banks closed or assisted in 1987.
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The FDIC's record
- Closed
- August 14, 1987
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Barnett BK of Pinellas C, ST. Petersburg, FL
- Total assets
- $56,604,000
- Total deposits
- $53,185,000
- Estimated cost to the FDIC
- $6,799,315 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- FDIC
- FDIC certificate
- 20345
Other bank failures in Florida, 1985 to 1989
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| First American Bank and Trust | North Palm Beach | December 15, 1989 | $1.38 billion | $1.01 billion | $383.1 million | First American Bank and Tru |
| Orange State Bank | Miami | December 8, 1989 | $8 million | $8.1 million | $925,395 | Helm Bank |
| General Federal Savings Bank | Coral Gables | November 16, 1989 | $355.5 million | $301.5 million | $115.4 million | Republic NB of Miami |
| Commonwealth Federal S & L | Fort Lauderdale | July 20, 1989 | $1.58 billion | $1.18 billion | $315.2 million | |
| Seminole National Bank | Hollywood | April 27, 1989 | $6.6 million | $7.6 million | $1.2 million | Family Bank of Hallandale |
| Tropical FS&LA (assistance) | Miami | April 13, 1989 | $55 million | $61.8 million | $11.9 million | First Federal SB |
| Interstate Bank of Commerce | Miami | March 31, 1989 | $6.4 million | $7 million | $1.9 million | |
| Enterprise Bank of Florida | Miami Lakes | March 17, 1989 | $28 million | $26.3 million | $3.6 million | Eastern National Bank |
All bank failures in 1987 · All bank failures in Florida · 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.