Data / Bank failures / 1988 / The Trust Bank
The Trust Bank, Hialeah, FL: failed January 29, 1988
The Trust Bank in Hialeah, Florida, failed on January 29, 1988. Republic NB of Miami of Miami, FL, took over its deposits. It held $164.5 million in assets and $160.2 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $15.7 million (9.5% of its assets). By assets it was the 129th largest of 470 banks closed or assisted in 1988.
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The FDIC's record
- Closed
- January 29, 1988
- Type
- Failure
- How it was resolved
- Insured deposit transfer: the insured deposits moved to another bank
- Acquirer
- Republic NB of Miami, Miami, FL
- Total assets
- $164,547,000
- Total deposits
- $160,160,000
- Estimated cost to the FDIC
- $15,654,346 (estimate as of July 31, 2026)
- Charter
- State member bank (Federal Reserve)
- Insurance fund
- FDIC
- FDIC certificate
- 25194
Other bank failures in Florida, 1986 to 1990
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| First Commercial Bank of Florida | Boca Raton | December 14, 1990 | $171.6 million | $164.1 million | $27.3 million | Bank of North America |
| Florida Federal Savings Bank | ST. Petersburg | November 9, 1990 | $4.12 billion | $2.27 billion | $393.6 million | First Union Corp. |
| Gold Coast Savings Bank | Plantation | October 19, 1990 | $151.7 million | $141.8 million | $46.9 million | |
| International FS & La | N. Miami Beach | October 12, 1990 | $84.3 million | $81.5 million | $13 million | |
| Ambassador FS & La | Tamarac | August 24, 1990 | $184.1 million | $162 million | $52.1 million | Bank of North America |
| Citizens & Builders FS | Pensacola | July 27, 1990 | $119.2 million | $97.9 million | $31.6 million | Central Bank of the South |
| Professional Savings Bank | Coral Gables | July 27, 1990 | $695.6 million | $618.4 million | $251.5 million | |
| Bank M | Miami | June 15, 1990 | $10.7 million | $10.7 million | $3.9 million | Bank of North America |
Other failed banks Republic NB of Miami took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| General Federal Savings Bank | Coral Gables | FL | November 16, 1989 | $355.5 million | $301.5 million | $115.4 million | Republic NB of Miami |
| Miami Savings Bank | Miami | FL | March 16, 1989 | $176.6 million | $158.8 million | $73.5 million | Republic NB of Miami |
All bank failures in 1988 · All bank failures in Florida · Every failed bank Republic NB of Miami took over · 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.