Data / Bank failures / 1992 / Palm Beach Fsa
Palm Beach Fsa, Palm Beach Garden, FL: failed December 8, 1992
Palm Beach Fsa in Palm Beach Garden, Florida, failed on December 8, 1992. Southbank, A FSB of Palm Beach Garde, FL, took over its deposits. It held $59.4 million in assets and $54.4 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $20.9 million (35.2% of its assets). By assets it was the 111th largest of 181 banks closed or assisted in 1992.
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The FDIC's record
- Closed
- December 8, 1992
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Southbank, A FSB, Palm Beach Garde, FL
- Total assets
- $59,403,000
- Total deposits
- $54,369,000
- Estimated cost to the FDIC
- $20,896,900 (estimate as of July 31, 2026)
- Charter
- Savings bank
- Insurance fund
- RTC
- FDIC certificate
- 32244
Other bank failures in Florida, 1990 to 1994
| 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 |
| 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 |
| Security Fsa | Panama City | January 31, 1992 | $107.1 million | $100.4 million | $16 million |
Other failed banks Southbank, A FSB took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Fidelity FSB | Corinth | MS | April 6, 1989 | $116.4 million | $135.3 million | $96.6 million | Southbank, A FSB |
| Republic Bank for Savings | Jackson | MS | April 6, 1989 | $43.4 million | $85.2 million | $73.6 million | Southbank, A FSB |
| Commonwealth S & L Assoc. | Osceola | AR | March 2, 1989 | $37.1 million | $35.7 million | $15.2 million | Southbank, A FSB |
All bank failures in 1992 · All bank failures in Florida · Every failed bank Southbank, A FSB 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.