Bank failure · CO
Modern Fed. S & L Assoc. (Grand Junction, CO) — failed March 9, 1989
Modern Fed. S & L Assoc. of Grand Junction, Colorado was closed on March 9, 1989 and resolved through a purchase and assumption. Centennial Sb (CO) took over its insured deposits. At failure it held $70.4M in assets and $71.5M in deposits. The FDIC's estimated loss on the failure is $2.2M (3.1% of assets).
- Closing date
- March 9, 1989
- FDIC certificate #
- 28775
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Centennial Sb
- Insurance fund
- RTC
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