First American Bank and Trust
North Palm Beach, FL · Owner: Citicorp
$1.4B
total assets, September 30, 1989
$1.4B
total assets, September 30, 1989
First American Bank and Trust was a state nonmember bank in North Palm Beach, FL, owned by Citicorp. It failed on Dec 15, 1989, and First American Bank And Tru took over its deposits. At its last report it held $1.4 billion in assets.
Updated Oct 11, 2026 · numbers as of September 30, 1989
This bank failed
- Failed on
- Dec 15, 1989
- Assets
- $1.4B
- Deposits
- $1.0B
- Estimated cost
- $383M
- Deposits went to
- First American Bank And Tru, North Palm Beach, FL
Total assets
$1.4B
-11.7% in a year · -1.7% in a quarter
Deposits
$1.0B
-9.9% in a year · -3.0% in a quarter
Loans
$508M
-36.4% in a year · -3.8% in a quarter
Profit so far
-$22.0M
Jan 1 to Sep 30, 1989
Capital ratio
0.31%
-4.99 pts in a year
Return on assets
-2.01%
-1.70 pts in a year
Facts
- Type
- State nonmember bank
- Head office
- 401 Northlake Boulevard, North Palm Beach, FL, 33408
- County
- Palm Beach
- Holding company
- Citicorp
- Established
- Jun 4, 1959
- Failed
- Dec 15, 1989
- Employees
- 1,751
- Id
- b18002
Quarter by quarter
March 31, 1984 to September 30, 1989
Assets, deposits and loans
Each quarter end, US dollars
Profit by quarter
Net income of each quarter, the last 12
Ratios
Percent. Return on assets and net interest margin are yearly rates.
Related pages
Questions and answers
How big is First American Bank and Trust?
$1.4 billion in total assets and $1.0 billion in deposits as of September 30, 1989, with assets down 11.7% from a year before. Its loans were $507.5 million.
Is First American Bank and Trust profitable?
No: it lost $22.0 million from January 1 to September 30, 1989. Its return on assets was -2.01% a year; about 1% is typical.
Who owns First American Bank and Trust?
First American Bank and Trust is owned by Citicorp, its holding company.
When did First American Bank and Trust fail?
Dec 15, 1989. First American Bank And Tru of North Palm Beach, FL took over its deposits. The estimated cost of the failure was $383.1 million.
Official public data from the reports every insured bank files each quarter. Profit so far runs from January 1 to the quarter end. Branch deposits are counted once a year, as of June 30. New quarters appear about two months after the quarter ends.