SALAMANCA FED. SAVINGS ASSOC. Failed 1989
What happened
SALAMANCA FED. SAVINGS ASSOC. of SALAMANCA, NY was closed on 1989-11-30. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to CATTARAUGUS CITY BANK (LITTLE VALLEY, NY). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2566
- FDIC Certificate
- 29436
- FDIC FIN
- 7130
- Bank name
- SALAMANCA FED. SAVINGS ASSOC.
- Location
- SALAMANCA, NY
- Failure date
- 1989-11-30
- FDIC resolution date
- 1990-08-17
- Charter type
- SL
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $0M
- Deposits at failure
- $30M
- Assets at failure
- $30M
- Acquiring bank
- CATTARAUGUS CITY BANK (LITTLE VALLEY, NY)