Bank Failure
COBB FSA
Closed November 8, 1991 · MARIETTA, GA · FDIC Cert #32543.
- Closing date
- November 8, 1991
- Headquarters
- MARIETTA, GA
- FDIC Certificate
- 32543
- Total assets at closing
- $83,159,000
- Total deposits at closing
- $82,813,000
- Estimated loss to DIF
- $25,527,000
- Resolution type
- other
- Acquirer
- FIRST UNION NB OF GA (FDIC Cert #1297)
Context
On November 8, 1991, regulators closed COBB FSA, headquartered in MARIETTA, GA. At closing, the institution held approximately $83,159,000 in assets and $82,813,000 in deposits. The FDIC arranged a resolution under which FIRST UNION NB OF GA acquired the failed bank's operations. The estimated cost to the FDIC Deposit Insurance Fund was approximately $25,527,000.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Other failures in 1991
| Date | Bank | HQ | Assets |
|---|---|---|---|
| 1991-12-20 | NORTH RIDGE BANK | OAKLAND PARK, FL | $94,332,000 |
| 1991-12-13 | INVESTORS FSB | RICHMOND, VA | $2,057,643,000 |
| 1991-12-13 | THE BANK MART | BRIDGEPORT, CT | $578,220,000 |
| 1991-12-13 | MERCHANTS NATIONAL BANK | LEOMINSTER, MA | $153,615,000 |
| 1991-12-13 | BANK OF EAST HARTFORD | EAST HARTFORD, CT | $36,581,000 |
| 1991-12-13 | FEDERAL FINANCE & MORTGAGE, LTD | HONOLULU, HI | $7,732,000 |
| 1991-12-12 | GRANITE CO-OPERATIVE BANK | QUINCY, MA | $103,814,000 |
| 1991-12-06 | SAYBROOK BANK AND TRUST COMPANY | OLD SAYBROOK, CT | $77,287,000 |
Explore: all failures · GA bank events · 1991 events · events hub