Bank failure · VA

Peidmont Fsa (Manassas, VA) — failed October 9, 1992

Peidmont Fsa of Manassas, Virginia was closed on October 9, 1992 and resolved through a purchase and assumption. Crestar Bank (VA) took over its insured deposits. At failure it held $444.6M in assets and $370.1M in deposits. The FDIC's estimated loss on the failure is $75.6M (17.0% of assets).