# MODERN FED. S & L ASSOC.

> **Failed bank** · GRAND JUNCTION, CO · failed 1989-03-09 · SL · FDIC cost $2M

## What happened

MODERN FED. S & L ASSOC. of GRAND JUNCTION, CO was closed by state regulators 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
- **Estimated FDIC DIF cost:** $2M
- **Deposits at failure:** $71M
- **Assets at failure:** $70M
- **Acquiring bank:** CENTENNIAL SB (DURANGO, CO)

## Primary source

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

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, MODERN FED. S & L ASSOC. (FDIC ID 2182), failed 1989-03-09. Retrieved via AI Analytics 2026-05-16 from https://api.ai-analytics.org/failed-bank/2182.

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