SECURITY FEDERAL SAVINGS, FSB Failed 1989
What happened
SECURITY FEDERAL SAVINGS, FSB of COLUMBIA, SC was closed on 1989-11-30. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to SOUTH CAROLINA NB (COLUMBIA, SC). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2565
- FDIC Certificate
- 29060
- FDIC FIN
- 7276
- Bank name
- SECURITY FEDERAL SAVINGS, FSB
- Location
- COLUMBIA, SC
- Failure date
- 1989-11-30
- FDIC resolution date
- 1991-02-15
- Charter type
- Savings bank
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $67M
- Deposits at failure
- $667M
- Assets at failure
- $759M
- Acquiring bank
- SOUTH CAROLINA NB (COLUMBIA, SC)