FIRST FED. S & L ASSOC. Failed 1989
What happened
FIRST FED. S & L ASSOC. of ATLANTA, GA was closed on 1989-03-09. The FDIC was named receiver.
Resolution: Insured Deposit Transfer — insured deposits transferred to another bank
Deposits were transferred to MERCHANT BANK OF ATLANTA (ATLANTA, GA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2176
- FDIC Certificate
- 27702
- FDIC FIN
- 7023
- Bank name
- FIRST FED. S & L ASSOC.
- Location
- ATLANTA, GA
- Failure date
- 1989-03-09
- FDIC resolution date
- 1990-05-25
- Charter type
- SL
- Resolution type
- Insured Deposit Transfer — insured deposits transferred to another bank
- FDIC DIF cost (est.)
- $18M
- Deposits at failure
- $250M
- Assets at failure
- $301M
- Acquiring bank
- MERCHANT BANK OF ATLANTA (ATLANTA, GA)