FIDELITY FEDERAL SAVINGS ASSOC. Failed 1989
What happened
FIDELITY FEDERAL SAVINGS ASSOC. of GALESBURG, IL was closed on 1989-11-09. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to FIRST BANK, A SB (CLAYTON, MO). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2550
- FDIC Certificate
- 27821
- FDIC FIN
- 7224
- Bank name
- FIDELITY FEDERAL SAVINGS ASSOC.
- Location
- GALESBURG, IL
- Failure date
- 1989-11-09
- FDIC resolution date
- 1990-11-16
- Charter type
- SL
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $47M
- Deposits at failure
- $362M
- Assets at failure
- $394M
- Acquiring bank
- FIRST BANK, A SB (CLAYTON, MO)