Bank failure · VA
Peoples S & L Assoc. (Hampton, VA) — failed June 29, 1989
Peoples S & L Assoc. of Hampton, Virginia was closed on June 29, 1989 and resolved through a purchase and assumption. Consolidated B&tc (VA) took over its insured deposits. At failure it held $23.9M in assets and $24.3M in deposits. The FDIC's estimated loss on the failure is $1.4M (5.8% of assets).
- Closing date
- June 29, 1989
- FDIC certificate #
- 28378
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Consolidated B&tc
- Insurance fund
- RTC
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