Bank failure · VA
Seasons Federal Savings Bank (Richmond, VA) — failed October 19, 1989
Seasons Federal Savings Bank of Richmond, Virginia was closed on October 19, 1989 and resolved through a purchase and assumption. Crestar Bank (VA) took over its insured deposits. At failure it held $260.8M in assets and $213.7M in deposits. The FDIC's estimated loss on the failure is $49.4M (18.9% of assets).
- Closing date
- October 19, 1989
- FDIC certificate #
- 31682
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Crestar Bank
- Insurance fund
- RTC
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