Bank failure · VA

Commonwealth FSB (Manassas, VA) — failed April 3, 1992

Commonwealth FSB of Manassas, Virginia was closed on April 3, 1992 and resolved through a purchase and assumption. Fairfax B&tc (VA) took over its insured deposits. At failure it held $72.5M in assets and $64.8M in deposits. The FDIC's estimated loss on the failure is $16.4M (22.6% of assets).