Bank failure · MS
Republic Bank for Savings (Jackson, MS) — failed April 6, 1989
Republic Bank for Savings of Jackson, Mississippi was closed on April 6, 1989 and resolved through a insured deposit transfer. Southbank, a FSB (MS) took over its insured deposits. At failure it held $43.4M in assets and $85.2M in deposits. The FDIC's estimated loss on the failure is $73.6M (169.6% of assets).
- Closing date
- April 6, 1989
- FDIC certificate #
- 31542
- Resolution
- Insured deposit transfer (failure)
- Acquiring institution
- Southbank, a FSB
- Insurance fund
- RTC
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