Bank failure · MO
Missouri Savings Association (Clayton, MO) — failed June 29, 1989
Missouri Savings Association of Clayton, Missouri was closed on June 29, 1989 and resolved through a purchase and assumption. Mercantile Bank of St. Loui (MO) took over its insured deposits. At failure it held $661.1M in assets and $500.7M in deposits. The FDIC's estimated loss on the failure is $48.8M (7.4% of assets).
- Closing date
- June 29, 1989
- FDIC certificate #
- 28581
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Mercantile Bank of St. Loui
- Insurance fund
- RTC
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