MERCANTILE SAVINGS BANK Failed 1991
What happened
MERCANTILE SAVINGS BANK of SOUTHAVEN, MS was closed on 1991-04-19. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to FIRST TN BANK NA, MS (SOUTHAVEN, MS). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3071
- FDIC Certificate
- 31914
- FDIC FIN
- 2139
- Bank name
- MERCANTILE SAVINGS BANK
- Location
- SOUTHAVEN, MS
- Failure date
- 1991-04-19
- FDIC resolution date
- 1991-10-25
- Charter type
- SL
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $9M
- Deposits at failure
- $34M
- Assets at failure
- $34M
- Acquiring bank
- FIRST TN BANK NA, MS (SOUTHAVEN, MS)