# FIRST CITY FSB

> **Failed bank** · LUCEDALE, MS · failed 1990-09-07 · SL · FDIC cost $9M

## What happened

FIRST CITY FSB of LUCEDALE, MS was closed by state regulators 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
- **Estimated FDIC DIF cost:** $9M
- **Deposits at failure:** $38M
- **Assets at failure:** $42M
- **Acquiring bank:** MAGNOLIA FB FOR SAVINGS (HATTIESBURG, MS)

## Other banks MAGNOLIA FB FOR SAVINGS has acquired in FDIC resolutions

- GREENWOOD FS & LA (GREENWOOD, MS) — failed 1990-02-23 — /failed-bank/2675
- 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=FIRST%20CITY%20FSB

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, FIRST CITY FSB (FDIC ID 2895), failed 1990-09-07. Retrieved via AI Analytics 2026-05-17 from https://api.ai-analytics.org/failed-bank/2895.

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