Bank failure · GA
Great Southern Federal Savings (Savannah, GA) — failed June 22, 1989
Great Southern Federal Savings of Savannah, Georgia was closed on June 22, 1989 and resolved through a purchase and assumption. First Wachovia (GA) took over its insured deposits. At failure it held $880.2M in assets and $629.9M in deposits. The FDIC's estimated loss on the failure is $146.5M (16.6% of assets).
- Closing date
- June 22, 1989
- FDIC certificate #
- 29507
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- First Wachovia
- Insurance fund
- RTC
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