THE GUARDIAN BANK, FSB Failed 1993

BOCA RATON, FL · State commercial bank, non-Federal Reserve member (FDIC-supervised) · view on FDIC BankFind ↗

What happened

THE GUARDIAN BANK, FSB of BOCA RATON, FL was closed on 1993-03-16. The FDIC was named receiver.

Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets

Deposits were transferred to SHAWMUT BANK, FSB (BOCA RATON, FL). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
3442
FDIC Certificate
32238
FDIC FIN
1293
Bank name
THE GUARDIAN BANK, FSB
Location
BOCA RATON, FL
Failure date
1993-03-16
FDIC resolution date
1994-07-15
Charter type
State commercial bank, non-Federal Reserve member (FDIC-supervised)
Resolution type
Purchase & Assumption — acquiring bank assumed deposits + bought assets
FDIC DIF cost (est.)
$4M
Deposits at failure
$69M
Assets at failure
$76M
Acquiring bank
SHAWMUT BANK, FSB (BOCA RATON, FL)