Data / Bank failures / 1992 / Perpetual Savings Bank
Perpetual Savings Bank, Vienna, VA: failed January 10, 1992
Perpetual Savings Bank in Vienna, Virginia, failed on January 10, 1992. Crestar Bank of Richmond, VA, took over its deposits. It held $2.89 billion in assets and $2.45 billion in deposits at its last report. The FDIC estimates the cost to its insurance fund at $453.7 million (15.7% of its assets). By assets it was the 9th largest of 181 banks closed or assisted in 1992.
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The FDIC's record
- Closed
- January 10, 1992
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Crestar Bank, Richmond, VA
- Total assets
- $2,892,072,000
- Total deposits
- $2,447,078,000
- Estimated cost to the FDIC
- $453,690,396 (estimate as of July 31, 2026)
- Charter
- Savings bank
- Insurance fund
- RTC
- FDIC certificate
- 31231
Other bank failures in Virginia, 1990 to 1994
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| New Atlantic Bank, NA | Norfolk | August 12, 1993 | $15.1 million | $14.4 million | $792,379 | Bank of Hampton Roads |
| Sailors & Merchants B&T Co. | Vienna | December 11, 1992 | $34.8 million | $34.5 million | $5 million | First Union Bank of Virg |
| Peidmont Fsa | Manassas | October 9, 1992 | $444.6 million | $370.1 million | $75.6 million | Crestar Bank |
| The Washington Bank | Fairfax County | September 18, 1992 | $28.1 million | $27.9 million | $5.1 million | George Mason Bank |
| Liberty FSB | Warrenton | July 17, 1992 | $92 million | $86.9 million | $12.3 million | Jefferson NB |
| Home FSB | Norfolk | July 10, 1992 | $224.2 million | $195.2 million | $42.8 million | Home SB, FSB |
| Federal Sa of Virginia | Falls Church | April 10, 1992 | $31.5 million | $29.6 million | $14.5 million | Fairfax B&TC |
| Commonwealth FSB | Manassas | April 3, 1992 | $72.5 million | $64.8 million | $16.4 million | Fairfax B&TC |
Other failed banks Crestar Bank took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Peidmont Fsa | Manassas | VA | October 9, 1992 | $444.6 million | $370.1 million | $75.6 million | Crestar Bank |
| United FSB | Vienna | VA | July 31, 1990 | $415.6 million | $352.7 million | $134.5 million | Crestar Bank |
| Security FS & La | Richmond | VA | March 2, 1990 | $341.6 million | $237.5 million | $24 million | Crestar Bank |
| Seasons Federal Savings Bank | Richmond | VA | October 19, 1989 | $260.8 million | $213.7 million | $49.4 million | Crestar Bank |
All bank failures in 1992 · All bank failures in Virginia · Every failed bank Crestar 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.