# STATE MUTUAL FED. S & L ASSOC.

> **Failed bank** · JACKSON, MS · failed 1989-04-06 · SL · FDIC cost $4M

## What happened

STATE MUTUAL FED. S & L ASSOC. of JACKSON, MS was closed by state regulators 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
- **Estimated FDIC DIF cost:** $4M
- **Deposits at failure:** $10M
- **Assets at failure:** $9M
- **Acquiring bank:** FIRST COMMERCE SB (JACKSON, MS)

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=STATE%20MUTUAL%20FED.%20S%20%26%20L%20ASSOC.

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, STATE MUTUAL FED. S & L ASSOC. (FDIC ID 2329), failed 1989-04-06. Retrieved via AI Analytics 2026-06-25 from https://api.ai-analytics.org/failed-bank/2329.

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