Bank failure · FL
First Fed. S & L of the Florida Keys (Key West, FL) — failed March 16, 1989
First Fed. S & L of the Florida Keys of Key West, Florida was closed on March 16, 1989 and resolved through a purchase and assumption. Barnett Bank of the Keys (FL) took over its insured deposits. At failure it held $219.9M in assets and $192.6M in deposits. The FDIC's estimated loss on the failure is $49.3M (22.4% of assets).
- Closing date
- March 16, 1989
- FDIC certificate #
- 30561
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Barnett Bank of the Keys
- Insurance fund
- RTC
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