Data / Bank failures / 1983 / Union Trust Company
Union Trust Company, San Juan, PR: failed December 9, 1983
Union Trust Company in San Juan, Puerto Rico, failed on December 9, 1983. Banco Popular de Puerto of San Juan, PR, took over its deposits. It held $30.6 million in assets and $25.7 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $9.2 million (30.2% of its assets). By assets it was the 68th largest of 99 banks closed or assisted in 1983.
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The FDIC's record
- Closed
- December 9, 1983
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Banco Popular de Puerto, San Juan, PR
- Total assets
- $30,578,000
- Total deposits
- $25,653,000
- Estimated cost to the FDIC
- $9,236,929 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- FDIC
- FDIC certificate
- 23674
Other bank failures in Puerto Rico, 1981 to 1985
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Home FS&LA (assistance) | Ponce | October 1, 1984 | $45.6 million | $23.7 million | $1.7 million | Caguas FS&LA of Puerto Rico |
| Girod Trust Company | San Juan | August 16, 1984 | $405.7 million | $289.7 million | $86.3 million | Citibank N A |
| United FS&LA of Puerto Rico (assistance) | San Juan | July 30, 1982 | $286.9 million | $215.9 million | Caguas FS&LA | |
| Banco Regional | Bayamon | June 12, 1982 | $21.4 million | $17.9 million | $319,816 | Citibank N A |
| Pan American, FS&LA (assistance) | Rio Piedras | November 20, 1981 | $43.9 million | $31.6 million | First FSB | |
| First FS&LA of Puerto Rico (assistance) | Santurce | November 20, 1981 | First FSB |
Other failed banks Banco Popular de Puerto took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Banco de Ahorro, F.S.B. | Mayaguez | PR | May 30, 1986 | $34 million | $30 million | $7 million | Banco Popular de Puerto |
| Washington Nat BK of Chicago | Chicago | IL | May 18, 1984 | $14.1 million | $13.8 million | $2 million | Banco Popular de Puerto |
All bank failures in 1983 · All bank failures in Puerto Rico · Every failed bank Banco Popular de Puerto 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.