STATE MUTUAL FED. S & L ASSOC. Failed 1989
What happened
STATE MUTUAL FED. S & L ASSOC. of JACKSON, MS was closed on 1989-04-06. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to FIRST COMMERCE SB (JACKSON, MS). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2329
- FDIC Certificate
- 31252
- FDIC FIN
- 6994
- Bank name
- STATE MUTUAL FED. S & L ASSOC.
- Location
- JACKSON, MS
- Failure date
- 1989-04-06
- FDIC resolution date
- 1990-05-11
- Charter type
- SL
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $4M
- Deposits at failure
- $10M
- Assets at failure
- $9M
- Acquiring bank
- FIRST COMMERCE SB (JACKSON, MS)