GUARANTY FED. S & L ASSOC. Failed 1989
What happened
GUARANTY FED. S & L ASSOC. of BIRMINGHAM, AL was closed on 1989-02-17. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to SOUTHTRUST AFFLIATED BANKS (BIRMINGHAM, AL). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2117
- FDIC Certificate
- 29965
- FDIC FIN
- 6978
- Bank name
- GUARANTY FED. S & L ASSOC.
- Location
- BIRMINGHAM, AL
- Failure date
- 1989-02-17
- FDIC resolution date
- 1990-05-04
- Charter type
- SL
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $56M
- Deposits at failure
- $399M
- Assets at failure
- $381M
- Acquiring bank
- SOUTHTRUST AFFLIATED BANKS (BIRMINGHAM, AL)