Data / Bank failures / 1992 / Sailors & Merchants B&T Co.
Sailors & Merchants B&T Co., Vienna, VA: failed December 11, 1992
Sailors & Merchants B&T Co. in Vienna, Virginia, failed on December 11, 1992. First Union Bank of Virg of Vienna, VA, took over its deposits. It held $34.8 million in assets and $34.5 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $5 million (14.3% of its assets). By assets it was the 141st largest of 181 banks closed or assisted in 1992.
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The FDIC's record
- Closed
- December 11, 1992
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- First Union Bank of Virg, Vienna, VA
- Total assets
- $34,775,000
- Total deposits
- $34,481,000
- Estimated cost to the FDIC
- $4,957,958 (estimate as of July 31, 2026)
- Charter
- State member bank (Federal Reserve)
- Insurance fund
- BIF
- FDIC certificate
- 25306
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 |
| 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 |
| Vista Fsa | Reston | February 28, 1992 | $113.2 million | $108.7 million | $36.9 million | Eastern American Bank, FSB |
All bank failures in 1992 · All bank failures in Virginia · 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.