FEDERAL SA OF VIRGINIA Failed 1992
What happened
FEDERAL SA OF VIRGINIA of FALLS CHURCH, VA was closed on 1992-04-10. 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
- 3310
- FDIC Certificate
- 32639
- FDIC FIN
- 1248
- Bank name
- FEDERAL SA OF VIRGINIA
- Location
- FALLS CHURCH, VA
- Failure date
- 1992-04-10
- FDIC resolution date
- 1994-03-11
- Charter type
- Savings bank
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $14M
- Deposits at failure
- $30M
- Assets at failure
- $31M
- Acquiring bank
- FAIRFAX B&TC (FAIRFAX, VA)
Other banks FAIRFAX B&TC acquired in FDIC resolutions