Bank failure · PA
Hill Financial Sa (Red Hill, PA) — failed March 9, 1989
Hill Financial Sa of Red Hill, Pennsylvania was closed on March 9, 1989 and resolved through a purchase and assumption. Meridian Financial Sa, Fa (PA) took over its insured deposits. At failure it held $3.0B in assets and $2.5B in deposits. The FDIC's estimated loss on the failure is $730.7M (24.3% of assets).
- Closing date
- March 9, 1989
- FDIC certificate #
- 30204
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Meridian Financial Sa, Fa
- Insurance fund
- RTC
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