FIRST FED. S & L ASSOC. Failed 1989
What happened
FIRST FED. S & L ASSOC. of SUMMERVILLE, GA was closed on 1989-03-09. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to INTERFEDERAL SB (CHATANOOGA, TN). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2192
- FDIC Certificate
- 30902
- FDIC FIN
- 7077
- Bank name
- FIRST FED. S & L ASSOC.
- Location
- SUMMERVILLE, GA
- Failure date
- 1989-03-09
- FDIC resolution date
- 1990-06-22
- Charter type
- SL
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $5M
- Deposits at failure
- $35M
- Assets at failure
- $33M
- Acquiring bank
- INTERFEDERAL SB (CHATANOOGA, TN)