Bank failure · FL

First Federated Savings Bank (N. Palm Beach, FL) — failed March 11, 1988

First Federated Savings Bank of N. Palm Beach, Florida was closed on March 11, 1988 and resolved through a a/a. Statesman Bank for Svg FSB (IA) took over its insured deposits. At failure it held $141.7M in assets and $155.2M in deposits. The FDIC's estimated loss on the failure is $90.6M (64.0% of assets).