Bank failure · GA
First Fed. S & L Assoc. (Atlanta, GA) — failed March 9, 1989
First Fed. S & L Assoc. of Atlanta, Georgia was closed on March 9, 1989 and resolved through a insured deposit transfer. Merchant Bank of Atlanta (GA) took over its insured deposits. At failure it held $301.0M in assets and $249.8M in deposits. The FDIC's estimated loss on the failure is $18.2M (6.0% of assets).
- Closing date
- March 9, 1989
- FDIC certificate #
- 27702
- Resolution
- Insured deposit transfer (failure)
- Acquiring institution
- Merchant Bank of Atlanta
- Insurance fund
- RTC
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