PEOPLES FEDERAL S & L ASSOC. Failed 1991
What happened
PEOPLES FEDERAL S & L ASSOC. of NEW KENSINGTON, PA was closed on 1991-03-01. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to JOHNSTOWN B&TC (JOHNSTOWN, PA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3025
- FDIC Certificate
- 29643
- FDIC FIN
- 7434
- Bank name
- PEOPLES FEDERAL S & L ASSOC.
- Location
- NEW KENSINGTON, PA
- Failure date
- 1991-03-01
- FDIC resolution date
- 1991-09-06
- Charter type
- SL
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $2M
- Deposits at failure
- $99M
- Assets at failure
- $108M
- Acquiring bank
- JOHNSTOWN B&TC (JOHNSTOWN, PA)