Bank failure · MS
Mercantile Savings Bank (Southaven, MS) — failed April 19, 1991
Mercantile Savings Bank of Southaven, Mississippi was closed on April 19, 1991 and resolved through a purchase and assumption. First Tn Bank NA, Ms (MS) took over its insured deposits. At failure it held $33.8M in assets and $34.0M in deposits. The FDIC's estimated loss on the failure is $9.1M (27.0% of assets).
- Closing date
- April 19, 1991
- FDIC certificate #
- 31914
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- First Tn Bank NA, Ms
- Insurance fund
- RTC
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