# FIRST FED. S & L ASSOC.

> **Failed bank** · ATLANTA, GA · failed 1989-03-09 · SL · FDIC cost $18M

## What happened

FIRST FED. S & L ASSOC. of ATLANTA, GA was closed by state regulators 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
- **Estimated FDIC DIF cost:** $18M
- **Deposits at failure:** $250M
- **Assets at failure:** $301M
- **Acquiring bank:** MERCHANT BANK OF ATLANTA (ATLANTA, GA)

## Primary source

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

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, FIRST FED. S & L ASSOC. (FDIC ID 2176), failed 1989-03-09. Retrieved via AI Analytics 2026-05-17 from https://api.ai-analytics.org/failed-bank/2176.

---

*[FDIC failures dataset](/datasets/fdic-failures) · CC0 1.0*