Bank failure · NY

South Shore Fs&la (Massapequa, NY) — failed November 15, 1982

South Shore Fs&la of Massapequa, New York was closed on November 15, 1982 and resolved through a a/a. Empire of America Fsa (FL) took over its insured deposits. At failure it held $366.1M in assets and $272.2M in deposits. The FDIC's estimated loss on the failure is $19.5M (5.3% of assets).