Bank failure · MI

First Fs & LA (Pontiac, MI) — failed October 16, 1991

First Fs & LA of Pontiac, Michigan was closed on October 16, 1991 and resolved through a purchase and assumption. Branch Sale (NA) took over its insured deposits. At failure it held $917.0M in assets and $558.6M in deposits. The FDIC's estimated loss on the failure is $34.3M (3.7% of assets).