# PALM BEACH FSA

> **Failed bank** · PALM BEACH GARDEN, FL · failed 1992-12-08 · Savings bank · FDIC cost $21M

## What happened

PALM BEACH FSA of PALM BEACH GARDEN, FL was closed by state regulators 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
- **Estimated FDIC DIF cost:** $21M
- **Deposits at failure:** $54M
- **Assets at failure:** $59M
- **Acquiring bank:** SOUTHBANK, A FSB (PALM BEACH GARDE, FL)

## Other banks SOUTHBANK, A FSB has acquired in FDIC resolutions

- FIDELITY FSB (CORINTH, MS) — failed 1989-04-06 — /failed-bank/2345
- REPUBLIC BANK FOR SAVINGS (JACKSON, MS) — failed 1989-04-06 — /failed-bank/2331
- COMMONWEALTH S & L ASSOC. (OSCEOLA, AR) — failed 1989-03-02 — /failed-bank/2155

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=PALM%20BEACH%20FSA

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, PALM BEACH FSA (FDIC ID 3425), failed 1992-12-08. Retrieved via AI Analytics 2026-05-20 from https://api.ai-analytics.org/failed-bank/3425.

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