MODERN FED. S & L ASSOC. Failed 1989
What happened
MODERN FED. S & L ASSOC. of GRAND JUNCTION, CO was closed on 1989-03-09. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to CENTENNIAL SB (DURANGO, CO). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2182
- FDIC Certificate
- 28775
- FDIC FIN
- 6949
- Bank name
- MODERN FED. S & L ASSOC.
- Location
- GRAND JUNCTION, CO
- Failure date
- 1989-03-09
- FDIC resolution date
- 1990-01-26
- Charter type
- SL
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $2M
- Deposits at failure
- $71M
- Assets at failure
- $70M
- Acquiring bank
- CENTENNIAL SB (DURANGO, CO)