Bank failure · PA

Peoples Federal S & L Assoc. (New Kensington, PA) — failed March 1, 1991

Peoples Federal S & L Assoc. of New Kensington, Pennsylvania was closed on March 1, 1991 and resolved through a purchase and assumption. Johnstown B&tc (PA) took over its insured deposits. At failure it held $107.6M in assets and $98.6M in deposits. The FDIC's estimated loss on the failure is $2.5M (2.3% of assets).