Bank failure · FL
Commonwealth Federal S & L (Fort Lauderdale, FL) — failed July 20, 1989
Commonwealth Federal S & L of Fort Lauderdale, Florida was closed on July 20, 1989 and resolved through a purchase and assumption. Branch Sale (NA) took over its insured deposits. At failure it held $1.6B in assets and $1.2B in deposits. The FDIC's estimated loss on the failure is $315.2M (20.0% of assets).
- Closing date
- July 20, 1989
- FDIC certificate #
- 32076
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Branch Sale
- Insurance fund
- RTC
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