# FIRST SAVINGS BANK OF ALABAMA

> **Failed bank** · HAMILTON, AL · failed 1989-03-09 · Savings bank · FDIC cost $2M

## What happened

FIRST SAVINGS BANK OF ALABAMA of HAMILTON, AL was closed by state regulators on **1989-03-09**. The FDIC was named receiver.

**Resolution:** Insured Deposit Transfer — insured deposits transferred to another bank

Deposits were transferred to **SOUTHTRUST BANK OF MARION C** (HAMILTON, AL). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 2198
- **FDIC Certificate:** 31342
- **FDIC FIN:** 6942
- **Bank name:** FIRST SAVINGS BANK OF ALABAMA
- **Location:** HAMILTON, AL
- **Failure date:** 1989-03-09
- **FDIC resolution date:** 1989-12-15
- **Charter type:** Savings bank
- **Resolution type:** Insured Deposit Transfer — insured deposits transferred to another bank
- **Estimated FDIC DIF cost:** $2M
- **Deposits at failure:** $24M
- **Assets at failure:** $26M
- **Acquiring bank:** SOUTHTRUST BANK OF MARION C (HAMILTON, AL)

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=FIRST%20SAVINGS%20BANK%20OF%20ALABAMA

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, FIRST SAVINGS BANK OF ALABAMA (FDIC ID 2198), failed 1989-03-09. Retrieved via AI Analytics 2026-05-17 from https://api.ai-analytics.org/failed-bank/2198.

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