Bank failure · MI

Bloomfield S&la (Birmingham, MI) — failed December 16, 1988

Bloomfield S&la of Birmingham, Michigan was closed on December 16, 1988 and resolved through a a/a. First Nationwide Bank a FSB (CA) took over its insured deposits. At failure it held $688.7M in assets and $607.4M in deposits. The FDIC's estimated loss on the failure is $119.6M (17.4% of assets).