# HABERSHAM FEDERAL SA

> **Failed bank** · CORNELIA, GA · failed 1989-06-22 · Savings bank · FDIC cost $36M

## What happened

HABERSHAM FEDERAL SA of CORNELIA, GA was closed by state regulators 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
- **Estimated FDIC DIF cost:** $36M
- **Deposits at failure:** $91M
- **Assets at failure:** $93M
- **Acquiring bank:** FIRST COMMERCE BANK (COMMERCE, GA)

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=HABERSHAM%20FEDERAL%20SA

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, HABERSHAM FEDERAL SA (FDIC ID 2394), failed 1989-06-22. Retrieved via AI Analytics 2026-05-20 from https://api.ai-analytics.org/failed-bank/2394.

---

*[FDIC failures dataset](/datasets/fdic-failures) · CC0 1.0*