Data / Bank failures / 1981 / Washington FS&LA
Washington FS&LA, Miami Beach, FL: received FDIC assistance September 8, 1981
Washington FS&LA in Miami Beach, Florida, received open bank assistance from the FDIC on September 8, 1981. It held $1.20 billion in assets and $913.5 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $147.2 million (12.3% of its assets). By assets it was the 5th largest of 40 banks closed or assisted in 1981.
SpecStream is the live web data engine for teams and agents. It reads the FDIC failed bank data every morning, and this page is that reading. Ask for the banks you follow and each new closure arrives in your sheet, CRM, Slack or agent as the FDIC announces it.
The FDIC's record
- Closed
- September 8, 1981
- Type
- Open bank assistance
- How it was resolved
- Open bank assistance: the FDIC assisted the bank without closing it
- Acquirer
- Citizens Savings, San Francisco, CA
- Total assets
- $1,201,562,434
- Total deposits
- $913,543,346
- Estimated cost to the FDIC
- $147,223,100 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- FSLIC
- FDIC certificate
- 30603
Other bank failures in Florida, 1979 to 1983
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Community FS&LA (assistance) | Hialeah | August 31, 1983 | $123.1 million | $101.8 million | $1.2 million | Ensign Bank FSB |
| First Florida S&LA (assistance) | Gainesville | August 5, 1983 | $80.8 million | $70.5 million | $7.7 million | Metropolitan SB |
| Biscayne FS&LA (assistance) | Miami | April 6, 1983 | $1.89 billion | $1.73 billion | $389,000 | Citicorp Savings of Florida |
| 1ST of Delray Beach S&LA (assistance) | Delray Beach | October 1, 1982 | $843 million | $675.2 million | Carteret Savings Bank FA | |
| First of Mid Florida (assistance) | Deland | July 30, 1982 | $549.3 million | $486.8 million | $1.8 million | Empire of America, Fsa |
| Metropolitan BK & TR Company | Tampa | February 12, 1982 | $267.4 million | $210.2 million | Great American Bank of T | |
| United FS&LA of Broward County (assistance) | Fort Lauderdale | February 5, 1982 | $672.4 million | $573.7 million | California FS&LA | |
| Southern FS&LA of Broward County (assistance) | Pompano Beach | December 17, 1981 | $615.4 million | $495.7 million | $5.2 million | Home Sa of America |
Other failed banks Citizens Savings took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| American SB (assistance) | Springfield | IL | December 29, 1988 | $887 million | $845.6 million | $176.1 million | Citizens Savings |
| West Side FS&LA (assistance) | New York | NY | September 8, 1981 | $2.50 billion | $1.96 billion | $315.5 million | Citizens Savings |
All bank failures in 1981 · All bank failures in Florida · Every failed bank Citizens Savings 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.