# FIRST FS & LA OF ANDALUSIA

> **Failed bank** · ANDALUSIA, AL · failed 1990-12-28 · SL · FDIC cost $6M

## What happened

FIRST FS & LA OF ANDALUSIA of ANDALUSIA, AL was closed by state regulators 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
- **Estimated FDIC DIF cost:** $6M
- **Deposits at failure:** $38M
- **Assets at failure:** $39M
- **Acquiring bank:** COLONIAL BANK (MONTGOMERY, AL)

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=FIRST%20FS%20%26%20LA%20OF%20ANDALUSIA

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, FIRST FS & LA OF ANDALUSIA (FDIC ID 2980), failed 1990-12-28. Retrieved via AI Analytics 2026-05-17 from https://api.ai-analytics.org/failed-bank/2980.

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*[FDIC failures dataset](/datasets/fdic-failures) · CC0 1.0*