# MERCANTILE SAVINGS BANK

> **Failed bank** · SOUTHAVEN, MS · failed 1991-04-19 · SL · FDIC cost $9M

## What happened

MERCANTILE SAVINGS BANK of SOUTHAVEN, MS was closed by state regulators 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
- **Estimated FDIC DIF cost:** $9M
- **Deposits at failure:** $34M
- **Assets at failure:** $34M
- **Acquiring bank:** FIRST TN BANK NA, MS (SOUTHAVEN, MS)

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=MERCANTILE%20SAVINGS%20BANK

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, MERCANTILE SAVINGS BANK (FDIC ID 3071), failed 1991-04-19. Retrieved via AI Analytics 2026-05-17 from https://api.ai-analytics.org/failed-bank/3071.

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