PEOPLES S & L ASSOC. Failed 1989
What happened
PEOPLES S & L ASSOC. of HAMPTON, VA was closed on 1989-06-29. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to CONSOLIDATED B&TC (RICHMOND, VA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2400
- FDIC Certificate
- 28378
- FDIC FIN
- 7006
- Bank name
- PEOPLES S & L ASSOC.
- Location
- HAMPTON, VA
- Failure date
- 1989-06-29
- FDIC resolution date
- 1990-05-18
- Charter type
- SL
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $1M
- Deposits at failure
- $24M
- Assets at failure
- $24M
- Acquiring bank
- CONSOLIDATED B&TC (RICHMOND, VA)
Other banks CONSOLIDATED B&TC acquired in FDIC resolutions