Bank failure · AR
Commonwealth S & L Assoc. (Osceola, AR) — failed March 2, 1989
Commonwealth S & L Assoc. of Osceola, Arkansas was closed on March 2, 1989 and resolved through a purchase and assumption. Southbank, a FSB (MS) took over its insured deposits. At failure it held $37.1M in assets and $35.7M in deposits. The FDIC's estimated loss on the failure is $15.2M (41.1% of assets).
- Closing date
- March 2, 1989
- FDIC certificate #
- 31653
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Southbank, a FSB
- Insurance fund
- RTC
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