CORAL S & LA Failed 1991

What happened

CORAL S & LA of CORAL SPRINGS, FL was closed on 1991-01-25. The FDIC was named receiver.

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

Deposits were transferred to BANK OF N. AMERICA-BROWARD (FT. LAUDERDALE, FL). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

3001

FDIC Certificate

32523

FDIC FIN

7331

Bank name

CORAL S & LA

Location

CORAL SPRINGS, FL

Failure date

1991-01-25

FDIC resolution date

1991-06-28

Charter type

SL

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$4M

Deposits at failure

$32M

Assets at failure

$32M

Acquiring bank

BANK OF N. AMERICA-BROWARD (FT. LAUDERDALE, FL)