Bank failure · PA
Horizon Financial, Fa (Southampton, PA) — failed June 8, 1989
Horizon Financial, Fa of Southampton, Pennsylvania was closed on June 8, 1989 and resolved through a purchase and assumption. Branch Sale (NA) took over its insured deposits. At failure it held $2.5B in assets and $1.8B in deposits. The FDIC's estimated loss on the failure is $305.9M (12.3% of assets).
- Closing date
- June 8, 1989
- FDIC certificate #
- 29830
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Branch Sale
- Insurance fund
- RTC
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