Bank failure · GA
First Fed. S & L Assoc. (Summerville, GA) — failed March 9, 1989
First Fed. S & L Assoc. of Summerville, Georgia was closed on March 9, 1989 and resolved through a purchase and assumption. Interfederal Sb (TN) took over its insured deposits. At failure it held $32.8M in assets and $35.4M in deposits. The FDIC's estimated loss on the failure is $5.2M (16.0% of assets).
- Closing date
- March 9, 1989
- FDIC certificate #
- 30902
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Interfederal Sb
- Insurance fund
- RTC
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