LUDINGTON FSB Failed 1991
What happened
LUDINGTON FSB of LUDINGTON, MI was closed on 1991-05-17. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to NORTHWESTERN SB&T (TRAVERSE CITY, MI). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3107
- FDIC Certificate
- 29795
- FDIC FIN
- 2161
- Bank name
- LUDINGTON FSB
- Location
- LUDINGTON, MI
- Failure date
- 1991-05-17
- FDIC resolution date
- 1992-02-07
- Charter type
- Savings bank
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $1M
- Deposits at failure
- $34M
- Assets at failure
- $34M
- Acquiring bank
- NORTHWESTERN SB&T (TRAVERSE CITY, MI)