Bank failure · KS
The Garnett S & L Assoc. (Garnett, KS) — failed December 7, 1989
The Garnett S & L Assoc. of Garnett, Kansas was closed on December 7, 1989 and resolved through a purchase and assumption. Farmers State Bank (KS) took over its insured deposits. At failure it held $13.6M in assets and $14.5M in deposits. The FDIC's estimated loss on the failure is $794K (5.8% of assets).
- Closing date
- December 7, 1989
- FDIC certificate #
- 29516
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Farmers State Bank
- Insurance fund
- RTC
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