Bank failure · MS
State Mutual Fed. S & L Assoc. (Jackson, MS) — failed April 6, 1989
State Mutual Fed. S & L Assoc. of Jackson, Mississippi was closed on April 6, 1989 and resolved through a purchase and assumption. First Commerce Sb (MS) took over its insured deposits. At failure it held $8.7M in assets and $9.8M in deposits. The FDIC's estimated loss on the failure is $4.0M (46.3% of assets).
- Closing date
- April 6, 1989
- FDIC certificate #
- 31252
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- First Commerce Sb
- Insurance fund
- RTC
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