HABERSHAM FEDERAL SA Failed 1989

What happened

HABERSHAM FEDERAL SA of CORNELIA, GA was closed on 1989-06-22. The FDIC was named receiver.

Resolution: Insured Deposit Transfer — insured deposits transferred to another bank

Deposits were transferred to FIRST COMMERCE BANK (COMMERCE, GA). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

2394

FDIC Certificate

27924

FDIC FIN

6920

Bank name

HABERSHAM FEDERAL SA

Location

CORNELIA, GA

Failure date

1989-06-22

FDIC resolution date

1989-09-21

Charter type

Savings bank

Resolution type

Insured Deposit Transfer — insured deposits transferred to another bank

FDIC DIF cost (est.)

$36M

Deposits at failure

$91M

Assets at failure

$93M

Acquiring bank

FIRST COMMERCE BANK (COMMERCE, GA)