Bank Failure
FIRST CITY FSB
Closed September 7, 1990 · LUCEDALE , MS · FDIC Cert #31887 .
- Closing date
- September 7, 1990
- Headquarters
- LUCEDALE , MS
- FDIC Certificate
- 31887
- Total assets at closing
- $41.7M
- Total deposits at closing
- $38.0M
- Estimated loss to DIF
- $9.0M
- Resolution type
- other
- Acquirer
- MAGNOLIA FB FOR SAVINGS (FDIC Cert #7363)
Context
On September 7, 1990, regulators closed FIRST CITY FSB , headquartered in LUCEDALE , MS . At closing, the institution held approximately $41.7M in assets and $38.0M in deposits . The FDIC arranged a resolution under which MAGNOLIA FB FOR SAVINGS acquired the failed bank's operations. The estimated cost to the FDIC Deposit Insurance Fund was approximately $9.0M.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Other failures in 1990
| Date | Bank | HQ | Assets |
|---|---|---|---|
| 1990-12-28 | CAPITOL BANK AND TRUST COMPANY | BOSTON , MA | $485.6M |
| 1990-12-28 | SOUTHERN FS | NEW ORLEANS , LA | $230.8M |
| 1990-12-28 | FIRST FS & LA OF ANDALUSIA | ANDALUSIA , AL | $38.7M |
| 1990-12-27 | ENTERPRISE SAVINGS BANK, FA | CHICAGO , IL | $432.6M |
| 1990-12-21 | ARKANSAS FSB | LITTLE ROCK , AR | $71.7M |
| 1990-12-15 | MID-AMERICA FS & LA | COLUMBUS , OH | $1.21B |
| 1990-12-14 | COMMUNITY FS & LA | ST. LOUIS , MO | $1.98B |
| 1990-12-14 | COMFED SAVINGS BANK | LOWELL , MA | $1.40B |
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