BAY FSB Failed 1991
What happened
BAY FSB of WEST PALM BEACH, FL was closed on 1991-09-06. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to FIDELITY FSB OF FL (WEST PALM BEACH, FL). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3183
- FDIC Certificate
- 32454
- FDIC FIN
- 1291
- Bank name
- BAY FSB
- Location
- WEST PALM BEACH, FL
- Failure date
- 1991-09-06
- FDIC resolution date
- 1994-07-15
- Charter type
- SL
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $13M
- Deposits at failure
- $54M
- Assets at failure
- $58M
- Acquiring bank
- FIDELITY FSB OF FL (WEST PALM BEACH, FL)
Other banks FIDELITY FSB OF FL acquired in FDIC resolutions
- HANSEN FSB (PALM BEACH GARDEN, FL) — failed 1992-01-10