Bank failure · FL
Bank of South Palm Beaches (Hypoluxo, FL) — failed August 9, 1991
Bank of South Palm Beaches of Hypoluxo, Florida was closed on August 9, 1991 and resolved through a purchase and assumption. 1st United Bank (FL) took over its insured deposits. At failure it held $61.3M in assets and $63.5M in deposits. The FDIC's estimated loss on the failure is $31.0M (50.6% of assets).
- Closing date
- August 9, 1991
- FDIC certificate #
- 22908
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- 1st United Bank
- Insurance fund
- BIF
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