FIRST JACKSON FSB Failed 1990

What happened

FIRST JACKSON FSB of JACKSON, MS was closed on 1990-06-29. The FDIC was named receiver.

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

Deposits were transferred to TRUSTMARK NB (JACKSON, MS). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

2835

FDIC Certificate

31640

FDIC FIN

7352

Bank name

FIRST JACKSON FSB

Location

JACKSON, MS

Failure date

1990-06-29

FDIC resolution date

1991-07-12

Charter type

Savings bank

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$22M

Deposits at failure

$91M

Assets at failure

$117M

Acquiring bank

TRUSTMARK NB (JACKSON, MS)