# GREENWOOD FS & LA

> **Failed bank** · GREENWOOD, MS · failed 1990-02-23 · SL · FDIC cost $4M

## What happened

GREENWOOD FS & LA of GREENWOOD, MS was closed by state regulators on **1990-02-23**. The FDIC was named receiver.

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

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


## Key facts

- **FDIC ID:** 2675
- **FDIC Certificate:** 30854
- **FDIC FIN:** 7299
- **Bank name:** GREENWOOD FS & LA
- **Location:** GREENWOOD, MS
- **Failure date:** 1990-02-23
- **FDIC resolution date:** 1991-05-31
- **Charter type:** SL
- **Resolution type:** Insured Deposit Transfer — insured deposits transferred to another bank
- **Estimated FDIC DIF cost:** $4M
- **Deposits at failure:** $26M
- **Assets at failure:** $27M
- **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
- BROOKHAVEN FS & LA (BROOKHAVEN, MS) — failed 1990-01-18 — /failed-bank/2623

## Primary source

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

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, GREENWOOD FS & LA (FDIC ID 2675), failed 1990-02-23. Retrieved via AI Analytics 2026-07-12 from https://api.ai-analytics.org/failed-bank/2675.

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