Bank failure · AL
First Savings Bank of Alabama (Hamilton, AL) — failed March 9, 1989
First Savings Bank of Alabama of Hamilton, Alabama was closed on March 9, 1989 and resolved through a insured deposit transfer. Southtrust Bank of Marion C (AL) took over its insured deposits. At failure it held $26.0M in assets and $24.0M in deposits. The FDIC's estimated loss on the failure is $1.9M (7.5% of assets).
- Closing date
- March 9, 1989
- FDIC certificate #
- 31342
- Resolution
- Insured deposit transfer (failure)
- Acquiring institution
- Southtrust Bank of Marion C
- Insurance fund
- RTC
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