Bank failure · VA
Imperial Savings and Loan Association (Martinsville, VA) — failed August 20, 2010
Imperial Savings and Loan Association of Martinsville, Virginia was closed on August 20, 2010 and resolved through a purchase and assumption. River Community Bank, National Association (VA) took over its insured deposits. At failure it held $9.4M in assets and $10.1M in deposits. The FDIC's estimated loss on the failure is $4.7M (50.2% of assets).
- Closing date
- August 20, 2010
- FDIC certificate #
- 31623
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- River Community Bank, National Association
- Insurance fund
- DIF
- Pre-failure filings
- Last reported financials
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