FIRST CITY FSB Failed 1990
What happened
FIRST CITY FSB of LUCEDALE, MS was closed on 1990-09-07. 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
- 2895
- FDIC Certificate
- 31887
- FDIC FIN
- 7363
- Bank name
- FIRST CITY FSB
- Location
- LUCEDALE, MS
- Failure date
- 1990-09-07
- FDIC resolution date
- 1991-07-19
- Charter type
- SL
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $9M
- Deposits at failure
- $38M
- Assets at failure
- $42M
- Acquiring bank
- MAGNOLIA FB FOR SAVINGS (HATTIESBURG, MS)
Other banks MAGNOLIA FB FOR SAVINGS acquired in FDIC resolutions