Bank failure · GA
First Fed. S & L Assoc. (Americus, GA) — failed June 22, 1989
First Fed. S & L Assoc. of Americus, Georgia was closed on June 22, 1989 and resolved through a purchase and assumption. Sumter Bank & Trust (GA) took over its insured deposits. At failure it held $54.4M in assets and $49.8M in deposits. The FDIC's estimated loss on the failure is $8.8M (16.2% of assets).
- Closing date
- June 22, 1989
- FDIC certificate #
- 30458
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Sumter Bank & Trust
- Insurance fund
- RTC
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