Bank failure · FL

Florida Federal Savings Bank (St. Petersburg, FL) — failed November 9, 1990

Florida Federal Savings Bank of St. Petersburg, Florida was closed on November 9, 1990 and resolved through a purchase and assumption. First Union Corp. (NC) took over its insured deposits. At failure it held $4.1B in assets and $2.3B in deposits. The FDIC's estimated loss on the failure is $393.6M (9.6% of assets).