SECURITY FIRST FS & LA Failed 1992
What happened
SECURITY FIRST FS & LA of DAYTONA BEACH, FL was closed on 1992-04-10. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to FIRST UNION NB OF FL (JACKSONVILLE, FL). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3308
- FDIC Certificate
- 29222
- FDIC FIN
- 1207
- Bank name
- SECURITY FIRST FS & LA
- Location
- DAYTONA BEACH, FL
- Failure date
- 1992-04-10
- FDIC resolution date
- 1992-04-10
- Charter type
- SL
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $24M
- Deposits at failure
- $904M
- Assets at failure
- $1,014M
- Acquiring bank
- FIRST UNION NB OF FL (JACKSONVILLE, FL)
Other banks FIRST UNION NB OF FL acquired in FDIC resolutions