Bank failure · FL

Coral Coast FSB (Boynton Beach, FL) — failed August 2, 1991

Coral Coast FSB of Boynton Beach, Florida was closed on August 2, 1991 and resolved through a purchase and assumption. Mackinac Sb, FSB (FL) took over its insured deposits. At failure it held $61.2M in assets and $60.3M in deposits. The FDIC's estimated loss on the failure is $16.2M (26.5% of assets).