Bank failure · FL

First Fs & LA of Seminole Co. (Sanford, FL) — failed April 5, 1991

First Fs & LA of Seminole Co. of Sanford, Florida was closed on April 5, 1991 and resolved through a purchase and assumption. Federal Trust Bank, FSB (FL) took over its insured deposits. At failure it held $185.3M in assets and $160.4M in deposits. The FDIC's estimated loss on the failure is $17.7M (9.6% of assets).