COMMONWEALTH FSB Failed 1992
What happened
COMMONWEALTH FSB of MANASSAS, VA was closed on 1992-04-03. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to FAIRFAX B&TC (FAIRFAX, VA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3305
- FDIC Certificate
- 31453
- FDIC FIN
- 1274
- Bank name
- COMMONWEALTH FSB
- Location
- MANASSAS, VA
- Failure date
- 1992-04-03
- FDIC resolution date
- 1994-05-06
- Charter type
- Savings bank
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $16M
- Deposits at failure
- $65M
- Assets at failure
- $73M
- Acquiring bank
- FAIRFAX B&TC (FAIRFAX, VA)
Other banks FAIRFAX B&TC acquired in FDIC resolutions