SOUTHSTATE BANK FOR SAVINGS Failed 1992
What happened
SOUTHSTATE BANK FOR SAVINGS of BROCKTON, MA was closed on 1992-04-24. The FDIC was named receiver.
Resolution: Payout / Insured deposits — FDIC paid insured deposits directly to depositors
Deposits were transferred to BAYBANK (BURLINGTON, MA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3316
- FDIC Certificate
- 90170
- FDIC FIN
- 4475
- Bank name
- SOUTHSTATE BANK FOR SAVINGS
- Location
- BROCKTON, MA
- Failure date
- 1992-04-24
- FDIC resolution date
- 1992-04-24
- Charter type
- SI
- Resolution type
- Payout / Insured deposits — FDIC paid insured deposits directly to depositors
- FDIC DIF cost (est.)
- $10M
- Deposits at failure
- $267M
- Assets at failure
- $286M
- Acquiring bank
- BAYBANK (BURLINGTON, MA)