AMERICAN FS & LA Failed 1989
What happened
AMERICAN FS & LA of ALBUQUERQUE, NM was closed on 1989-03-09. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to FIRST NB IN ALBUQUERQUE (ALBUQUERQUE, NM). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2197
- FDIC Certificate
- 31290
- FDIC FIN
- 7057
- Bank name
- AMERICAN FS & LA
- Location
- ALBUQUERQUE, NM
- Failure date
- 1989-03-09
- FDIC resolution date
- 1990-06-08
- Charter type
- SL
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $53M
- Deposits at failure
- $151M
- Assets at failure
- $189M
- Acquiring bank
- FIRST NB IN ALBUQUERQUE (ALBUQUERQUE, NM)
Other banks FIRST NB IN ALBUQUERQUE acquired in FDIC resolutions