# MAGNOLIA FS&LA

> **Failed bank** · KNOXVILLE, TN · failed 1985-06-07 · SL · FDIC cost $2M

## What happened

MAGNOLIA FS&LA of KNOXVILLE, TN was closed by state regulators on **1985-06-07**. The FDIC was named receiver.

**Resolution:** Insured Deposit Transfer — insured deposits transferred to another bank

Deposits were transferred to **0** (0, 0). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 1007
- **FDIC Certificate:** 31674
- **FDIC FIN:** 0
- **Bank name:** MAGNOLIA FS&LA
- **Location:** KNOXVILLE, TN
- **Failure date:** 1985-06-07
- **FDIC resolution date:** 1985-06-07
- **Charter type:** SL
- **Resolution type:** Insured Deposit Transfer — insured deposits transferred to another bank
- **Estimated FDIC DIF cost:** $2M
- **Deposits at failure:** $4M
- **Assets at failure:** $5M
- **Acquiring bank:** 0 (0, 0)

## Other banks 0 has acquired in FDIC resolutions

- THE COMMUNITY'S BANK (BRIDGEPORT, CT) — failed 2013-09-13 — /failed-bank/4055
- NOVA BANK (BERWYN, PA) — failed 2012-10-26 — /failed-bank/4029
- BANK OF THE EASTERN SHORE (CAMBRIDGE, MD) — failed 2012-04-27 — /failed-bank/4001
- NEW CITY BANK (CHICAGO, IL) — failed 2012-03-09 — /failed-bank/3995
- HOME SAVINGS OF AMERICA (LITTLE FALLS, MN) — failed 2012-02-24 — /failed-bank/3993
- FIRSTIER BANK (LOUISVILLE, CO) — failed 2011-01-28 — /failed-bank/3901
- ENTERPRISE BANKING COMPANY (MCDONOUGH, GA) — failed 2011-01-21 — /failed-bank/3894
- FIRST ARIZONA SAVINGS, A FSB (SCOTTSDALE, AZ) — failed 2010-10-22 — /failed-bank/3871
- IDEAL FEDERAL SAVINGS BANK (BALTIMORE, MD) — failed 2010-07-09 — /failed-bank/3821
- ARCOLA HOMESTEAD SAVINGS BANK (ARCOLA, IL) — failed 2010-06-04 — /failed-bank/3814

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=MAGNOLIA%20FS%26LA

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, MAGNOLIA FS&LA (FDIC ID 1007), failed 1985-06-07. Retrieved via AI Analytics 2026-05-16 from https://api.ai-analytics.org/failed-bank/1007.

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*[FDIC failures dataset](/datasets/fdic-failures) · CC0 1.0*