FIRST FS & LA OF ANDALUSIA Failed 1990
What happened
FIRST FS & LA OF ANDALUSIA of ANDALUSIA, AL was closed on 1990-12-28. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to COLONIAL BANK (MONTGOMERY, AL). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2980
- FDIC Certificate
- 29116
- FDIC FIN
- 2116
- Bank name
- FIRST FS & LA OF ANDALUSIA
- Location
- ANDALUSIA, AL
- Failure date
- 1990-12-28
- FDIC resolution date
- 1991-09-27
- Charter type
- SL
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $6M
- Deposits at failure
- $38M
- Assets at failure
- $39M
- Acquiring bank
- COLONIAL BANK (MONTGOMERY, AL)