Bank failure · MS

First Guaranty Bank for Savings (Hattiesburg, MS) — failed January 4, 1990

First Guaranty Bank for Savings of Hattiesburg, Mississippi was closed on January 4, 1990 and resolved through a purchase and assumption. Branch Sale (NA) took over its insured deposits. At failure it held $241.0M in assets and $179.8M in deposits. The FDIC's estimated loss on the failure is $79.5M (33.0% of assets).