Bank failure · VA
Atlantic Permanent Federal (Norfolk, VA) — failed December 8, 1989
Atlantic Permanent Federal of Norfolk, Virginia was closed on December 8, 1989 and resolved through a payout (deposit payoff). Branch Sale (NA) took over its insured deposits. At failure it held $581.0M in assets and $370.6M in deposits. The FDIC's estimated loss on the failure is $79.9M (13.8% of assets).
- Closing date
- December 8, 1989
- FDIC certificate #
- 28223
- Resolution
- Payout (deposit payoff) (failure)
- Acquiring institution
- Branch Sale
- Insurance fund
- RTC
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