# BROOKHAVEN FS & LA

> **Failed bank** · BROOKHAVEN, MS · failed 1990-01-18 · SL · FDIC cost $8M

## What happened

BROOKHAVEN FS & LA of BROOKHAVEN, MS was closed by state regulators on **1990-01-18**. The FDIC was named receiver.

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

Deposits were transferred to **MAGNOLIA FB FOR SAVINGS** (HATTIESBURG, MS). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 2623
- **FDIC Certificate:** 31310
- **FDIC FIN:** 7347
- **Bank name:** BROOKHAVEN FS & LA
- **Location:** BROOKHAVEN, MS
- **Failure date:** 1990-01-18
- **FDIC resolution date:** 1991-07-12
- **Charter type:** SL
- **Resolution type:** Purchase & Assumption — acquiring bank assumed deposits + bought assets
- **Estimated FDIC DIF cost:** $8M
- **Deposits at failure:** $42M
- **Assets at failure:** $43M
- **Acquiring bank:** MAGNOLIA FB FOR SAVINGS (HATTIESBURG, MS)

## Other banks MAGNOLIA FB FOR SAVINGS has acquired in FDIC resolutions

- FIRST CITY FSB (LUCEDALE, MS) — failed 1990-09-07 — /failed-bank/2895
- GREENWOOD FS & LA (GREENWOOD, MS) — failed 1990-02-23 — /failed-bank/2675

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=BROOKHAVEN%20FS%20%26%20LA

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, BROOKHAVEN FS & LA (FDIC ID 2623), failed 1990-01-18. Retrieved via AI Analytics 2026-06-25 from https://api.ai-analytics.org/failed-bank/2623.

---

*[FDIC failures dataset](/datasets/fdic-failures) · CC0 1.0*