Bank failure · AL
Guaranty Fed. S & L Assoc. (Birmingham, AL) — failed February 17, 1989
Guaranty Fed. S & L Assoc. of Birmingham, Alabama was closed on February 17, 1989 and resolved through a purchase and assumption. Southtrust Affliated Banks (AL) took over its insured deposits. At failure it held $381.3M in assets and $398.6M in deposits. The FDIC's estimated loss on the failure is $55.9M (14.6% of assets).
- Closing date
- February 17, 1989
- FDIC certificate #
- 29965
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Southtrust Affliated Banks
- Insurance fund
- RTC
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