Bank failure · CO

Great West Federal Savings Bank (Craig, CO) — failed May 11, 1990

Great West Federal Savings Bank of Craig, Colorado was closed on May 11, 1990 and resolved through a purchase and assumption. First Nb of Meeker (CO) took over its insured deposits. At failure it held $28.1M in assets and $31.0M in deposits. The FDIC's estimated loss on the failure is $4.9M (17.5% of assets).