Bank failure · WV

First Federal Sav. Assoc./Bluefield (Bluefield, WV) — failed February 23, 1990

First Federal Sav. Assoc./Bluefield of Bluefield, West Virginia was closed on February 23, 1990 and resolved through a purchase and assumption. First FSB (WV) took over its insured deposits. At failure it held $39.3M in assets and $33.2M in deposits. The FDIC's estimated loss on the failure is $2.6M (6.6% of assets).