NEW SOUTH FEDERAL SAVINGS BANK Failed 2009
What happened
NEW SOUTH FEDERAL SAVINGS BANK of IRONDALE, AL was closed on 2009-12-18. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to BEAL BANK (PLANO, TX). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3732
- FDIC Certificate
- 32276
- FDIC FIN
- 10163
- Bank name
- NEW SOUTH FEDERAL SAVINGS BANK
- Location
- IRONDALE, AL
- Failure date
- 2009-12-18
- FDIC resolution date
- 2009-12-18
- Charter type
- Savings bank
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $312M
- Deposits at failure
- $1,164M
- Assets at failure
- $1,464M
- Acquiring bank
- BEAL BANK (PLANO, TX)