FDIC Open-Bank Assistance
Fidelity FS&LA
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Assistance provided October 2, 1984 · Corinth, MS · FDIC Cert #30939.
- Assistance date
- October 2, 1984
- Headquarters
- Corinth, MS
- FDIC Certificate
- 30939
- Total assets at the time
- $34.8M
- Total deposits at the time
- $33.6M
- Estimated loss to the insurance fund
- $1.5M
- Insurance fund
- Federal Savings and Loan Insurance Corporation (FSLIC)
- Resolution
- Open-bank assistance (the institution stayed open)
- Acquirer
- Fidelity FSB
Context
On October 2, 1984, the FDIC provided open-bank assistance to Fidelity FS&LA, headquartered in Corinth, MS. The institution continued operating. At the time it held approximately $34.8M in assets and $33.6M in deposits. The FDIC record names Fidelity FSB as the acquiring institution in the assisted transaction. The estimated cost to the Federal Savings and Loan Insurance Corporation (FSLIC) was approximately $1.5M.
The FDIC record for 1984 holds 83 failures and 23 open-bank assistance transactions. It falls in the period the record labels S&L / Banking Crisis (1980-1995), a period with 2,367 failures peaking at 530 in 1989.
Deregulation, interest-rate shocks, and commercial real estate blowups produced the worst US banking failure wave since the Depression. Resulted in FIRREA (1989) and the RTC.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did the FDIC provide assistance to Fidelity FS&LA?
Fidelity FS&LA received FDIC open-bank assistance on October 2, 1984; it did not fail.
How big was Fidelity FS&LA at the time of assistance?
Fidelity FS&LA had approximately $34.8M in total assets and $33.6M in deposits at the time of assistance.
Bank failures in 1984
| Date | Bank | Assets |
|---|---|---|
| Dec 22, 1984 | First Security Bank | $13.4M |
| Dec 20, 1984 | The Farmers State Bank | $14.6M |
| Dec 18, 1984 | Uehling State Bank | $4.2M |
| Dec 11, 1984 | University Bank of Wichita | $4.7M |
| Dec 7, 1984 | San Marino S&LA | $856.8M |
| Dec 7, 1984 | Farmers State BK of Holyoke | $3.9M |
| Dec 4, 1984 | Golden Spike State Bank | $7.8M |
| Nov 30, 1984 | The Dayton BK & TR Co. | $51.4M |
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