MAGNET BANK FSB Failed 1988
What happened
MAGNET BANK FSB of CHARLESTON, WV was closed on 1988-02-10. The FDIC was named receiver.
Resolution: A/A
Deposits were transferred to TRADERS FS&LA (CHARLESTON, WV). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 1621
- FDIC Certificate
- 29257
- FDIC FIN
- 1722
- Bank name
- MAGNET BANK FSB
- Location
- CHARLESTON, WV
- Failure date
- 1988-02-10
- FDIC resolution date
- 1988-02-10
- Charter type
- Savings bank
- Resolution type
- A/A
- FDIC DIF cost (est.)
- $116M
- Deposits at failure
- $419M
- Assets at failure
- $547M
- Acquiring bank
- TRADERS FS&LA (CHARLESTON, WV)
Other banks TRADERS FS&LA acquired in FDIC resolutions