FIDELITY FSB Failed 1989
What happened
FIDELITY FSB of CORINTH, 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 SOUTHBANK, A FSB (CORINTH, MS). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2345
- FDIC Certificate
- 32259
- FDIC FIN
- 6977
- Bank name
- FIDELITY FSB
- Location
- CORINTH, MS
- Failure date
- 1989-04-06
- FDIC resolution date
- 1990-05-04
- Charter type
- Savings bank
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $97M
- Deposits at failure
- $135M
- Assets at failure
- $116M
- Acquiring bank
- SOUTHBANK, A FSB (CORINTH, MS)
Other banks SOUTHBANK, A FSB acquired in FDIC resolutions