Data / Bank failures / 1991 / North Ridge Bank
North Ridge Bank, Oakland Park, FL: failed December 20, 1991
North Ridge Bank in Oakland Park, Florida, failed on December 20, 1991. Intercontinental Bank of Miami, FL, took over its deposits. It held $94.3 million in assets and $92.7 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $2.9 million (3.1% of its assets). By assets it was the 130th largest of 271 banks closed or assisted in 1991.
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The FDIC's record
- Closed
- December 20, 1991
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Intercontinental Bank, Miami, FL
- Total assets
- $94,332,000
- Total deposits
- $92,729,000
- Estimated cost to the FDIC
- $2,930,697 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- BIF
- FDIC certificate
- 21113
Other bank failures in Florida, 1989 to 1993
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| The Guardian Bank, FSB | Boca Raton | March 16, 1993 | $75.6 million | $69.2 million | $3.6 million | Shawmut Bank, FSB |
| Palm Beach Fsa | Palm Beach Garden | December 8, 1992 | $59.4 million | $54.4 million | $20.9 million | Southbank, A FSB |
| Jacksonville Fsa | Jacksonville | June 26, 1992 | $150.9 million | $147.5 million | $25.3 million | First Union NB of FL |
| Security First FS & La | Daytona Beach | April 10, 1992 | $1.01 billion | $904.2 million | $24.1 million | First Union NB of FL |
| Flagler FS & La | Miami | March 27, 1992 | $1.60 billion | $1.49 billion | $101.6 million | First Union NB of FL |
| National City Bank | Coral Springs | February 21, 1992 | $19 million | $18.6 million | $2.6 million | Intercontinental Bank |
| United Savings of America, FA | Melbourne | February 7, 1992 | $327.2 million | $293.4 million | $15.4 million | Barnett Bank of Central FL |
| Merchants National Bank | Fort Myers | February 7, 1992 | $35.1 million | $35.3 million | $5.2 million | Founders National Trust |
Other failed banks Intercontinental Bank took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| National City Bank | Coral Springs | FL | February 21, 1992 | $19 million | $18.6 million | $2.6 million | Intercontinental Bank |
All bank failures in 1991 · All bank failures in Florida · Every failed bank Intercontinental Bank took over · 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.