FIRST FED. S & L OF SOUTHEAST MO. Failed 1989

What happened

FIRST FED. S & L OF SOUTHEAST MO. of CAPE GIRARDEAU, MO was closed on 1989-04-06. The FDIC was named receiver.

Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets

Deposits were transferred to CAPE CTY BANK OF CAPE GIRAR (JACKSON, MO). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

2318

FDIC Certificate

27775

FDIC FIN

7014

Bank name

FIRST FED. S & L OF SOUTHEAST MO.

Location

CAPE GIRARDEAU, MO

Failure date

1989-04-06

FDIC resolution date

1990-05-18

Charter type

SL

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$33M

Deposits at failure

$332M

Assets at failure

$385M

Acquiring bank

CAPE CTY BANK OF CAPE GIRAR (JACKSON, MO)