Bank failure · VA
Community Fed. S & L Assoc. (Newport News, VA) — failed March 30, 1989
Community Fed. S & L Assoc. of Newport News, Virginia was closed on March 30, 1989 and resolved through a purchase and assumption. Consolidated B&tc (VA) took over its insured deposits. At failure it held $9.4M in assets and $10.0M in deposits. The FDIC's estimated loss on the failure is $1.3M (14.1% of assets).
- Closing date
- March 30, 1989
- FDIC certificate #
- 31884
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Consolidated B&tc
- Insurance fund
- RTC
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