Bank failure · AL

First Fs & LA of Andalusia (Andalusia, AL) — failed December 28, 1990

First Fs & LA of Andalusia of Andalusia, Alabama was closed on December 28, 1990 and resolved through a purchase and assumption. Colonial Bank (AL) took over its insured deposits. At failure it held $38.7M in assets and $37.7M in deposits. The FDIC's estimated loss on the failure is $6.3M (16.4% of assets).