# PHENIX FED. S & L ASSOC.

> **Failed bank** · PHENIX CITY, AL · failed 1989-03-09 · SL · FDIC cost $70M

## What happened

PHENIX FED. S & L ASSOC. of PHENIX CITY, AL 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 **BRANCH SALE** (NONE, NA). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 2218
- **FDIC Certificate:** 32557
- **FDIC FIN:** 7008
- **Bank name:** PHENIX FED. S & L ASSOC.
- **Location:** PHENIX CITY, AL
- **Failure date:** 1989-03-09
- **FDIC resolution date:** 1990-05-18
- **Charter type:** SL
- **Resolution type:** Purchase & Assumption — acquiring bank assumed deposits + bought assets
- **Estimated FDIC DIF cost:** $70M
- **Deposits at failure:** $195M
- **Assets at failure:** $150M
- **Acquiring bank:** BRANCH SALE (NONE, NA)
- **FDIC comments:** FSLIC-RTC Duplicate Failures

## Other banks BRANCH SALE has acquired in FDIC resolutions

- WESTERN FSB (MARINA DEL RAY, CA) — failed 1993-06-04 — /failed-bank/3457
- PIONEER FS & LA (PRAIRIE VILLAGE, KS) — failed 1993-04-02 — /failed-bank/3448
- SECOND NATIONAL, FSB (SALISBURY, MD) — failed 1992-12-04 — /failed-bank/3424
- CARTERET FSB (MADISON, NJ) — failed 1992-12-04 — /failed-bank/3422
- POLIFLY FS & LA (NEW MILFORD, NJ) — failed 1992-11-20 — /failed-bank/3417
- IRVING FB FOR SAVINGS (CHICAGO, IL) — failed 1992-11-20 — /failed-bank/3416
- FIRST FSB OF GEORGIA, FA (WINDER, GA) — failed 1992-11-06 — /failed-bank/3408
- HOMESTEAD FSA (SAN FRANCISCO, CA) — failed 1992-10-30 — /failed-bank/3406
- STANDARD FSB (GAITHERSBURG, MD) — failed 1992-10-21 — /failed-bank/3385
- SECURITY FS & LA (JACKSON, MS) — failed 1992-10-16 — /failed-bank/3384

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=PHENIX%20FED.%20S%20%26%20L%20ASSOC.

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, PHENIX FED. S & L ASSOC. (FDIC ID 2218), failed 1989-03-09. Retrieved via AI Analytics 2026-05-17 from https://api.ai-analytics.org/failed-bank/2218.

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*[FDIC failures dataset](/datasets/fdic-failures) · CC0 1.0*