FIRST FSA OF NEWTON Failed 1991

What happened

FIRST FSA OF NEWTON of NEWTON, KS was closed on 1991-05-10. The FDIC was named receiver.

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

Deposits were transferred to CENTRAL NB-NEWTON (NEWTON, KS). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

3098

FDIC Certificate

30782

FDIC FIN

2138

Bank name

FIRST FSA OF NEWTON

Location

NEWTON, KS

Failure date

1991-05-10

FDIC resolution date

1991-10-28

Charter type

Savings bank

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$1M

Deposits at failure

$106M

Assets at failure

$126M

Acquiring bank

CENTRAL NB-NEWTON (NEWTON, KS)