CITY FS & LA Failed 1989
What happened
CITY FS & LA of BIRMINGHAM, AL was closed on 1989-03-30. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to FIRST ALABAMA BANK (MONTGOMERY, AL). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2303
- FDIC Certificate
- 30202
- FDIC FIN
- 7169
- Bank name
- CITY FS & LA
- Location
- BIRMINGHAM, AL
- Failure date
- 1989-03-30
- FDIC resolution date
- 1990-09-14
- Charter type
- SL
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $53M
- Deposits at failure
- $648M
- Assets at failure
- $712M
- Acquiring bank
- FIRST ALABAMA BANK (MONTGOMERY, AL)
Other banks FIRST ALABAMA BANK acquired in FDIC resolutions