# COMMONWEALTH S & L ASSOC.

> **Failed bank** · OSCEOLA, AR · failed 1989-03-02 · SL · FDIC cost $15M

## What happened

COMMONWEALTH S & L ASSOC. of OSCEOLA, AR was closed by state regulators 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
- **Estimated FDIC DIF cost:** $15M
- **Deposits at failure:** $36M
- **Assets at failure:** $37M
- **Acquiring bank:** SOUTHBANK, A FSB (CORINTH, MS)

## Other banks SOUTHBANK, A FSB has acquired in FDIC resolutions

- PALM BEACH FSA (PALM BEACH GARDEN, FL) — failed 1992-12-08 — /failed-bank/3425
- FIDELITY FSB (CORINTH, MS) — failed 1989-04-06 — /failed-bank/2345
- REPUBLIC BANK FOR SAVINGS (JACKSON, MS) — failed 1989-04-06 — /failed-bank/2331

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=COMMONWEALTH%20S%20%26%20L%20ASSOC.

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, COMMONWEALTH S & L ASSOC. (FDIC ID 2155), failed 1989-03-02. Retrieved via AI Analytics 2026-05-17 from https://api.ai-analytics.org/failed-bank/2155.

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