Bank failure · VA

Ultimate Savings Bank (Richmond, VA) — failed September 16, 1988

Ultimate Savings Bank of Richmond, Virginia was closed on September 16, 1988 and resolved through a insured deposit transfer. 0 (0) took over its insured deposits. At failure it held $206.5M in assets and $194.3M in deposits. The FDIC's estimated loss on the failure is $34.9M (16.9% of assets).