SEASONS FEDERAL SAVINGS BANK Failed 1989
What happened
SEASONS FEDERAL SAVINGS BANK of RICHMOND, VA was closed on 1989-10-19. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to CRESTAR BANK (RICHMOND, VA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2535
- FDIC Certificate
- 31682
- FDIC FIN
- 7189
- Bank name
- SEASONS FEDERAL SAVINGS BANK
- Location
- RICHMOND, VA
- Failure date
- 1989-10-19
- FDIC resolution date
- 1990-09-28
- Charter type
- Savings bank
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $49M
- Deposits at failure
- $214M
- Assets at failure
- $261M
- Acquiring bank
- CRESTAR BANK (RICHMOND, VA)
Other banks CRESTAR BANK acquired in FDIC resolutions