Bank failure · MI

American Fs&la (Southfield, MI) — failed July 30, 1982

American Fs&la of Southfield, Michigan was closed on July 30, 1982 and resolved through a a/a. Empire of America, Fsa (MI) took over its insured deposits. At failure it held $841.7M in assets and $475.8M in deposits. The FDIC's estimated loss on the failure is $3.1M (0.4% of assets).