Bank failure · VA
Coreast FSB (Richmond, VA) — failed February 1, 1991
Coreast FSB of Richmond, Virginia was closed on February 1, 1991 and resolved through a purchase and assumption (insured deposits). Branch Sale (NA) took over its insured deposits. At failure it held $1.2B in assets and $993.2M in deposits. The FDIC's estimated loss on the failure is $210.8M (17.4% of assets).
- Closing date
- February 1, 1991
- FDIC certificate #
- 31654
- Resolution
- Purchase and assumption (insured deposits) (failure)
- Acquiring institution
- Branch Sale
- Insurance fund
- RTC
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