Empire of America Corporation

Empire of America Federal Savings Bank was a prominent financial institution that grew rapidly in the 1980s through numerous acquisitions to become one of the largest thrifts in the United States. Its aggressive expansion, coupled with a portfolio of high-risk loans and the broader economic pressures of the Savings and Loan crisis, led to massive financial losses. In January 1990, it was declared insolvent and seized by federal regulators, specifically the Office of Thrift Supervision (OTS). It was subsequently taken over by the Resolution Trust Corporation (RTC), marking one of the largest and most significant thrift failures in U.S. history.