Data / Bank failures / 1991 / Southeast Bank, National Association
Southeast Bank, National Association, Miami, FL: failed September 19, 1991
Southeast Bank, National Association in Miami, Florida, failed on September 19, 1991. First Union National Bank O of Jacksonville, FL, took over its deposits. It held $11.03 billion in assets and $8.91 billion in deposits at its last report. By assets it was the 2nd largest of 271 banks closed or assisted in 1991.
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The FDIC's record
- Closed
- September 19, 1991
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- First Union National Bank O, Jacksonville, FL
- Total assets
- $11,026,691,000
- Total deposits
- $8,908,637,000
- Charter
- National bank (supervised by the OCC)
- Insurance fund
- BIF
- FDIC certificate
- 3575
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 First Union National Bank O took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Southeast Bank of West Florida | Pensacola | FL | September 19, 1991 | $97.3 million | $88.2 million | First Union National Bank O |
All bank failures in 1991 · All bank failures in Florida · Every failed bank First Union National Bank O 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.