Bank failure · NM
Silver Savings Assoc. (Silver City, NM) — failed December 21, 1989
Silver Savings Assoc. of Silver City, New Mexico was closed on December 21, 1989 and resolved through a insured deposit transfer. First New Mexico Bank (NM) took over its insured deposits. At failure it held $32.2M in assets and $27.7M in deposits. The FDIC's estimated loss on the failure is $7.3M (22.6% of assets).
- Closing date
- December 21, 1989
- FDIC certificate #
- 31911
- Resolution
- Insured deposit transfer (failure)
- Acquiring institution
- First New Mexico Bank
- Insurance fund
- RTC
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