Data / Bank failures / 1987 / New World National Bank
New World National Bank, Pittsburgh, PA: failed October 22, 1987
New World National Bank in Pittsburgh, Pennsylvania, failed on October 22, 1987. Lincoln National Bank of Pittsburgh, PA, took over its deposits. It held $14.7 million in assets and $14.8 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $2.1 million (14.3% of its assets). By assets it was the 181st largest of 262 banks closed or assisted in 1987.
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The FDIC's record
- Closed
- October 22, 1987
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Lincoln National Bank, Pittsburgh, PA
- Total assets
- $14,685,000
- Total deposits
- $14,786,000
- Estimated cost to the FDIC
- $2,106,012 (estimate as of July 31, 2026)
- Charter
- National bank (supervised by the OCC)
- Insurance fund
- FDIC
- FDIC certificate
- 21951
Other bank failures in Pennsylvania, 1985 to 1989
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Horizon Financial, FA | Southampton | June 8, 1989 | $2.49 billion | $1.80 billion | $305.9 million | |
| Liberty Bell Savings Assoc. | Beaver Falls | March 9, 1989 | $90.3 million | $86.4 million | $7,714 | Reeves Bank |
| Hill Financial Sa | Red Hill | March 9, 1989 | $3.00 billion | $2.47 billion | $730.7 million | Meridian Financial Sa, FA |
| Concord-Liberty Fed. S & L Assoc. | Monroeville | March 9, 1989 | $220.3 million | $238.4 million | $19.4 million | Parkvale Sa |
Other failed banks Lincoln National Bank took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| First National Bank of Del City | Del City | OK | March 25, 1988 | $30.9 million | $28.1 million | $9 million | Lincoln National Bank |
All bank failures in 1987 · All bank failures in Pennsylvania · Every failed bank Lincoln National 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.