NEW GUARANTY FED. S & L ASSOC. Failed 1989
What happened
NEW GUARANTY FED. S & L ASSOC. of TAYLOR, MI was closed on 1989-07-27. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to NATIONAL BANK OF DETROIT (DETROIT, MI). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2456
- FDIC Certificate
- 30484
- FDIC FIN
- 6970
- Bank name
- NEW GUARANTY FED. S & L ASSOC.
- Location
- TAYLOR, MI
- Failure date
- 1989-07-27
- FDIC resolution date
- 1990-04-27
- Charter type
- Savings bank
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $8M
- Deposits at failure
- $192M
- Assets at failure
- $213M
- Acquiring bank
- NATIONAL BANK OF DETROIT (DETROIT, MI)