# HERITAGE SAVINGS BANK, FSB

> **Failed bank** · RICHMOND, VA · failed 1990-10-19 · Savings bank · FDIC cost $124M

## What happened

HERITAGE SAVINGS BANK, FSB of RICHMOND, VA was closed by state regulators on **1990-10-19**. The FDIC was named receiver.

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

Deposits were transferred to **CRFC INTERIM SB (CRESTAR BA** (RICHMOND, VA). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 2922
- **FDIC Certificate:** 31518
- **FDIC FIN:** 7344
- **Bank name:** HERITAGE SAVINGS BANK, FSB
- **Location:** RICHMOND, VA
- **Failure date:** 1990-10-19
- **FDIC resolution date:** 1991-07-05
- **Charter type:** Savings bank
- **Resolution type:** Purchase & Assumption — acquiring bank assumed deposits + bought assets
- **Estimated FDIC DIF cost:** $124M
- **Deposits at failure:** $726M
- **Assets at failure:** $889M
- **Acquiring bank:** CRFC INTERIM SB (CRESTAR BA (RICHMOND, VA)

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=HERITAGE%20SAVINGS%20BANK%2C%20FSB

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, HERITAGE SAVINGS BANK, FSB (FDIC ID 2922), failed 1990-10-19. Retrieved via AI Analytics 2026-07-02 from https://api.ai-analytics.org/failed-bank/2922.

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