Data / Bank failures / 1993 / The Guardian Bank, FSB
The Guardian Bank, FSB, Boca Raton, FL: failed March 16, 1993
The Guardian Bank, FSB in Boca Raton, Florida, failed on March 16, 1993. Shawmut Bank, FSB of Boca Raton, FL, took over its deposits. It held $75.6 million in assets and $69.2 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $3.6 million (4.7% of its assets). By assets it was the 19th largest of 50 banks closed or assisted in 1993.
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The FDIC's record
- Closed
- March 16, 1993
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Shawmut Bank, FSB, Boca Raton, FL
- Total assets
- $75,564,000
- Total deposits
- $69,245,000
- Estimated cost to the FDIC
- $3,588,886 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- RTC
- FDIC certificate
- 32238
Other bank failures in Florida, 1991 to 1995
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| 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 |
| Security Fsa | Panama City | January 31, 1992 | $107.1 million | $100.4 million | $16 million |
All bank failures in 1993 · All bank failures in Florida · 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.