Bank failure · FL
Palm Beach Fsa (Palm Beach Garden, FL) — failed December 8, 1992
Palm Beach Fsa of Palm Beach Garden, Florida was closed on December 8, 1992 and resolved through a purchase and assumption. Southbank, a FSB (FL) took over its insured deposits. At failure it held $59.4M in assets and $54.4M in deposits. The FDIC's estimated loss on the failure is $20.9M (35.2% of assets).
- Closing date
- December 8, 1992
- FDIC certificate #
- 32244
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Southbank, a FSB
- Insurance fund
- RTC
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