FINANCIAL SECURITY S & L ASSOC. Failed 1989
What happened
FINANCIAL SECURITY S & L ASSOC. of DELRAY BEACH, FL was closed on 1989-03-16. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to ESSEX SB, FSB (DELRAY BEACH, FL). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2272
- FDIC Certificate
- 32630
- FDIC FIN
- 7022
- Bank name
- FINANCIAL SECURITY S & L ASSOC.
- Location
- DELRAY BEACH, FL
- Failure date
- 1989-03-16
- FDIC resolution date
- 1990-05-25
- Charter type
- SL
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $58M
- Deposits at failure
- $150M
- Assets at failure
- $142M
- Acquiring bank
- ESSEX SB, FSB (DELRAY BEACH, FL)
- FDIC comments
- FSLIC-RTC Duplicate Failures