COMMUNITY FED. S & L ASSOC. Failed 1989
What happened
COMMUNITY FED. S & L ASSOC. of NEWPORT NEWS, VA was closed on 1989-03-30. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to CONSOLIDATED B&TC (RICHMOND, VA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2305
- FDIC Certificate
- 31884
- FDIC FIN
- 7007
- Bank name
- COMMUNITY FED. S & L ASSOC.
- Location
- NEWPORT NEWS, VA
- Failure date
- 1989-03-30
- FDIC resolution date
- 1990-05-18
- Charter type
- SL
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $1M
- Deposits at failure
- $10M
- Assets at failure
- $9M
- Acquiring bank
- CONSOLIDATED B&TC (RICHMOND, VA)
Other banks CONSOLIDATED B&TC acquired in FDIC resolutions