FIRST FEDERAL SAVINGS OF TOLEDO Failed 1991

What happened

FIRST FEDERAL SAVINGS OF TOLEDO of TOLEDO, OH was closed on 1991-02-01. The FDIC was named receiver.

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

Deposits were transferred to FIRST FSB (CLEVELAND, OH). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

3007

FDIC Certificate

29422

FDIC FIN

2117

Bank name

FIRST FEDERAL SAVINGS OF TOLEDO

Location

TOLEDO, OH

Failure date

1991-02-01

FDIC resolution date

1991-09-27

Charter type

SL

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$38M

Deposits at failure

$1,016M

Assets at failure

$1,023M

Acquiring bank

FIRST FSB (CLEVELAND, OH)

Other banks FIRST FSB acquired in FDIC resolutions

• FIRST FEDERAL SAVINGS & LOAN (SAN ANTONIO, TX) — failed 1991-01-04
• FIRST FEDERAL SAV. ASSOC./BLUEFIELD (BLUEFIELD, WV) — failed 1990-02-23
• BROADVIEW SAVINGS BANK (CLEVELAND, OH) — failed 1989-03-30
• PAN AMERICAN, FS&LA (RIO PIEDRAS, PR) — failed 1981-11-20
• FIRST FS&LA OF PUERTO RICO (SANTURCE, PR) — failed 1981-11-20