Bank failure · IL
Gem City Fs & LA (Quincy, IL) — failed January 18, 1990
Gem City Fs & LA of Quincy, Illinois was closed on January 18, 1990 and resolved through a purchase and assumption. Branch Sale (NA) took over its insured deposits. At failure it held $290.4M in assets and $232.9M in deposits. The FDIC's estimated loss on the failure is $11.6M (4.0% of assets).
- Closing date
- January 18, 1990
- FDIC certificate #
- 28830
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Branch Sale
- Insurance fund
- RTC
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