COMMONWEALTH S & L ASSOC. Failed 1989
What happened
COMMONWEALTH S & L ASSOC. of OSCEOLA, AR was closed on 1989-03-02. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to SOUTHBANK, A FSB (CORINTH, MS). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2155
- FDIC Certificate
- 31653
- FDIC FIN
- 7246
- Bank name
- COMMONWEALTH S & L ASSOC.
- Location
- OSCEOLA, AR
- Failure date
- 1989-03-02
- FDIC resolution date
- 1990-12-07
- Charter type
- SL
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $15M
- Deposits at failure
- $36M
- Assets at failure
- $37M
- Acquiring bank
- SOUTHBANK, A FSB (CORINTH, MS)
Other banks SOUTHBANK, A FSB acquired in FDIC resolutions