FLORIDA FEDERAL SAVINGS BANK Failed 1990
What happened
FLORIDA FEDERAL SAVINGS BANK of ST. PETERSBURG, FL was closed on 1990-11-09. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to FIRST UNION CORP. (CHARLOTTE, NC). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2935
- FDIC Certificate
- 28608
- FDIC FIN
- 7386
- Bank name
- FLORIDA FEDERAL SAVINGS BANK
- Location
- ST. PETERSBURG, FL
- Failure date
- 1990-11-09
- FDIC resolution date
- 1991-08-02
- Charter type
- Savings bank
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $394M
- Deposits at failure
- $2,271M
- Assets at failure
- $4,115M
- Acquiring bank
- FIRST UNION CORP. (CHARLOTTE, NC)