SECURITY FEDERAL SAVINGS BANK Failed 1990
What happened
SECURITY FEDERAL SAVINGS BANK of CARLSBAD, NM was closed on 1990-05-04. The FDIC was named receiver.
Resolution: Insured Deposit Transfer — insured deposits transferred to another bank
Deposits were transferred to WESTERN COMMERCE BANK (CARLSBAD, NM). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2752
- FDIC Certificate
- 31433
- FDIC FIN
- 7228
- Bank name
- SECURITY FEDERAL SAVINGS BANK
- Location
- CARLSBAD, NM
- Failure date
- 1990-05-04
- FDIC resolution date
- 1990-11-16
- Charter type
- Savings bank
- Resolution type
- Insured Deposit Transfer — insured deposits transferred to another bank
- FDIC DIF cost (est.)
- $15M
- Deposits at failure
- $34M
- Assets at failure
- $27M
- Acquiring bank
- WESTERN COMMERCE BANK (CARLSBAD, NM)
Other banks WESTERN COMMERCE BANK acquired in FDIC resolutions