Bank failure · AL

First Russell County (Phenix City, AL) — failed July 24, 1992

First Russell County of Phenix City, Alabama was closed on July 24, 1992 and resolved through a purchase and assumption. Branch Sale (NA) took over its insured deposits. At failure it held $87.0M in assets and $80.5M in deposits. The FDIC's estimated loss on the failure is $390K (0.4% of assets).