PALM BEACH FSA Failed 1992
What happened
PALM BEACH FSA of PALM BEACH GARDEN, FL was closed on 1992-12-08. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to SOUTHBANK, A FSB (PALM BEACH GARDE, FL). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3425
- FDIC Certificate
- 32244
- FDIC FIN
- 1240
- Bank name
- PALM BEACH FSA
- Location
- PALM BEACH GARDEN, FL
- Failure date
- 1992-12-08
- FDIC resolution date
- 1993-10-08
- Charter type
- Savings bank
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $21M
- Deposits at failure
- $54M
- Assets at failure
- $59M
- Acquiring bank
- SOUTHBANK, A FSB (PALM BEACH GARDE, FL)
Other banks SOUTHBANK, A FSB acquired in FDIC resolutions