THE GARNETT S & L ASSOC. Failed 1989
What happened
THE GARNETT S & L ASSOC. of GARNETT, KS was closed on 1989-12-07. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to FARMERS STATE BANK (BLUE MOUND, KS). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2579
- FDIC Certificate
- 29516
- FDIC FIN
- 7126
- Bank name
- THE GARNETT S & L ASSOC.
- Location
- GARNETT, KS
- Failure date
- 1989-12-07
- FDIC resolution date
- 1990-08-10
- Charter type
- SL
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $1M
- Deposits at failure
- $15M
- Assets at failure
- $14M
- Acquiring bank
- FARMERS STATE BANK (BLUE MOUND, KS)
Other banks FARMERS STATE BANK acquired in FDIC resolutions