# SILVER SAVINGS ASSOC.

> **Failed bank** · SILVER CITY, NM · failed 1989-12-21 · SL · FDIC cost $7M

## What happened

SILVER SAVINGS ASSOC. of SILVER CITY, NM was closed by state regulators on **1989-12-21**. The FDIC was named receiver.

**Resolution:** Insured Deposit Transfer — insured deposits transferred to another bank

Deposits were transferred to **FIRST NEW MEXICO BANK** (DEMING, NM). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 2597
- **FDIC Certificate:** 31911
- **FDIC FIN:** 7271
- **Bank name:** SILVER SAVINGS ASSOC.
- **Location:** SILVER CITY, NM
- **Failure date:** 1989-12-21
- **FDIC resolution date:** 1991-01-18
- **Charter type:** SL
- **Resolution type:** Insured Deposit Transfer — insured deposits transferred to another bank
- **Estimated FDIC DIF cost:** $7M
- **Deposits at failure:** $28M
- **Assets at failure:** $32M
- **Acquiring bank:** FIRST NEW MEXICO BANK (DEMING, NM)

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=SILVER%20SAVINGS%20ASSOC.

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, SILVER SAVINGS ASSOC. (FDIC ID 2597), failed 1989-12-21. Retrieved via AI Analytics 2026-05-17 from https://api.ai-analytics.org/failed-bank/2597.

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