Bank failure · FL
Financial Security S & L Assoc. (Delray Beach, FL) — failed March 16, 1989
Financial Security S & L Assoc. of Delray Beach, Florida was closed on March 16, 1989 and resolved through a purchase and assumption. Essex Sb, FSB (FL) took over its insured deposits. At failure it held $142.3M in assets and $150.4M in deposits. The FDIC's estimated loss on the failure is $57.8M (40.6% of assets).
- Closing date
- March 16, 1989
- FDIC certificate #
- 32630
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Essex Sb, FSB
- Insurance fund
- RTC
Other failures in 1989
- Columbia Fsa TX
- Silver Savings Assoc. NM
- First City National Bank and Trust NY
- United Community Bank CA
- First American Bank and Trust FL
- Red River S & L Assoc. LA
- North Side State Bank OK
- First Acadiana Bank LA
- Canyon Lake Bank TX
- Louisiana Savings Assn. LA
- Yorkridge-Calvert Federal Savings MD
- Midlothian National Bank TX
- City National Bank of Sayre OK
- Atlantic Permanent Federal VA
- City Savings, FSB NJ
- Orange State Bank FL
- First Bank, Pineville, Louisiana LA
- Westheimer Memorial Bank, NA TX
- First Commerce National Bank AZ
- Community Federal Savings Assoc. CT
- Aledo State Bank TX
- The Garnett S & L Assoc. KS
- Atlantic National Bank VA
- First National Bank of Frisco TX