Bank failure · MS

Brookhaven Fs & LA (Brookhaven, MS) — failed January 18, 1990

Brookhaven Fs & LA of Brookhaven, Mississippi was closed on January 18, 1990 and resolved through a purchase and assumption. Magnolia Fb for Savings (MS) took over its insured deposits. At failure it held $42.7M in assets and $42.0M in deposits. The FDIC's estimated loss on the failure is $8.2M (19.1% of assets).