Bank failure · FL

The Guardian Bank, FSB (Boca Raton, FL) — failed March 16, 1993

The Guardian Bank, FSB of Boca Raton, Florida was closed on March 16, 1993 and resolved through a purchase and assumption. Shawmut Bank, FSB (FL) took over its insured deposits. At failure it held $75.6M in assets and $69.2M in deposits. The FDIC's estimated loss on the failure is $3.6M (4.7% of assets).