# FIRST FED. S & L ASSOC.

> **Failed bank** · SUMMERVILLE, GA · failed 1989-03-09 · SL · FDIC cost $5M

## What happened

FIRST FED. S & L ASSOC. of SUMMERVILLE, GA 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 **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
- **Estimated FDIC DIF cost:** $5M
- **Deposits at failure:** $35M
- **Assets at failure:** $33M
- **Acquiring bank:** INTERFEDERAL SB (CHATANOOGA, TN)

## 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 2192), failed 1989-03-09. Retrieved via AI Analytics 2026-05-16 from https://api.ai-analytics.org/failed-bank/2192.

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