Bank failure · MI
Ludington FSB (Ludington, MI) — failed May 17, 1991
Ludington FSB of Ludington, Michigan was closed on May 17, 1991 and resolved through a purchase and assumption. Northwestern Sb&t (MI) took over its insured deposits. At failure it held $34.2M in assets and $33.7M in deposits. The FDIC's estimated loss on the failure is $807K (2.4% of assets).
- Closing date
- May 17, 1991
- FDIC certificate #
- 29795
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Northwestern Sb&t
- Insurance fund
- RTC
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