UNITED GUARANTY FED. SAVINGS BANK Failed 1989

What happened

UNITED GUARANTY FED. SAVINGS BANK of TULLAHOMA, TN was closed on 1989-03-09. The FDIC was named receiver.

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

Deposits were transferred to FRANKLIN COUNTY BANK (WINCHESTER, TN). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

2208

FDIC Certificate

31829

FDIC FIN

6976

Bank name

UNITED GUARANTY FED. SAVINGS BANK

Location

TULLAHOMA, TN

Failure date

1989-03-09

FDIC resolution date

1990-05-04

Charter type

Savings bank

Resolution type

Insured Deposit Transfer — insured deposits transferred to another bank

FDIC DIF cost (est.)

$3M

Deposits at failure

$13M

Assets at failure

$11M

Acquiring bank

FRANKLIN COUNTY BANK (WINCHESTER, TN)