VERMONT SA Failed 1990
What happened
VERMONT SA of TIMONIUM, MD was closed on 1990-02-09. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to FIRST NB OF MD (BALTIMORE, MD). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2650
- FDIC Certificate
- 29840
- FDIC FIN
- 7338
- Bank name
- VERMONT SA
- Location
- TIMONIUM, MD
- Failure date
- 1990-02-09
- FDIC resolution date
- 1991-06-28
- Charter type
- SL
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $42M
- Deposits at failure
- $254M
- Assets at failure
- $335M
- Acquiring bank
- FIRST NB OF MD (BALTIMORE, MD)