THE FIRST, FEDERAL ASSOCIATION Failed 1991
What happened
THE FIRST, FEDERAL ASSOCIATION of ORLANDO, FL was closed on 1991-10-11. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to GREAT WESTERN BANK, FSB (BEVERLY HILLS, CA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3214
- FDIC Certificate
- 28763
- FDIC FIN
- 2132
- Bank name
- THE FIRST, FEDERAL ASSOCIATION
- Location
- ORLANDO, FL
- Failure date
- 1991-10-11
- FDIC resolution date
- 1991-10-11
- Charter type
- SL
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $148M
- Deposits at failure
- $961M
- Assets at failure
- $1,066M
- Acquiring bank
- GREAT WESTERN BANK, FSB (BEVERLY HILLS, CA)
Other banks GREAT WESTERN BANK, FSB acquired in FDIC resolutions