FIRST AMERICAN FSB Failed 1992

What happened

FIRST AMERICAN FSB of GREENSBORO, NC was closed on 1992-06-05. The FDIC was named receiver.

Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets

Deposits were transferred to CENTURA BANK (ROCKY MOUNT, NC). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

3336

FDIC Certificate

29595

FDIC FIN

1239

Bank name

FIRST AMERICAN FSB

Location

GREENSBORO, NC

Failure date

1992-06-05

FDIC resolution date

1993-10-08

Charter type

Savings bank

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$35M

Deposits at failure

$639M

Assets at failure

$804M

Acquiring bank

CENTURA BANK (ROCKY MOUNT, NC)