COLONIAL FEDERAL SAVINGS ASSOC. Failed 1990

What happened

COLONIAL FEDERAL SAVINGS ASSOC. of PRAIRIE VILLAGE, KS was closed on 1990-01-18. The FDIC was named receiver.

Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets

Deposits were transferred to FIRST COLONIAL BANK NA (PRAIRIE VILLAGE, KS). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

2622

FDIC Certificate

31213

FDIC FIN

7125

Bank name

COLONIAL FEDERAL SAVINGS ASSOC.

Location

PRAIRIE VILLAGE, KS

Failure date

1990-01-18

FDIC resolution date

1990-08-10

Charter type

SL

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$17M

Deposits at failure

$102M

Assets at failure

$136M

Acquiring bank

FIRST COLONIAL BANK NA (PRAIRIE VILLAGE, KS)