Bank Failure

First Federal Savings & Loan

Name: First Federal Savings & Loan Bank Failure
Start: 1990-04-12
End: 1990-04-12
Location: Warner Robins, GA

Closed April 12, 1990 · Warner Robins, GA · FDIC Cert #31233.

Closing date: April 12, 1990
Headquarters: Warner Robins, GA
FDIC Certificate: 31233
Total assets at closing: $150.1M
Total deposits at closing: $144.1M
Estimated loss to DIF: $15.0M
Resolution: Failure (closed by regulators)
Acquirer: CB&T Bank of Middle Ga

Context

On April 12, 1990, regulators closed First Federal Savings & Loan, headquartered in Warner Robins, GA. At closing, the institution held approximately $150.1M in assets and $144.1M in deposits. The FDIC arranged a resolution under which CB&T Bank of Middle Ga acquired the failed bank's operations. The estimated cost to the FDIC Deposit Insurance Fund was approximately $15.0M.

By assets at closing this is the 939th largest of the 3,524 bank failures in the FDIC record, and the 120th of 381 in 1990. 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 First Federal Savings & Loan fail?

First Federal Savings & Loan was closed by regulators on April 12, 1990.

Who acquired First Federal Savings & Loan?

CB&T Bank of Middle Ga acquired the failed bank's deposits and operations on April 12, 1990 under an FDIC-brokered resolution.

How big was First Federal Savings & Loan when it failed?

First Federal Savings & Loan had approximately $150.1M in total assets and $144.1M in deposits at the time of failure.

Other failures in 1990

Date	Bank	HQ	Assets
Dec 28, 1990	Capitol Bank and Trust Company	Boston, MA	$485.6M
Dec 28, 1990	Southern FS	New Orleans, LA	$230.8M
Dec 28, 1990	First FS & La of Andalusia	Andalusia, AL	$38.7M
Dec 27, 1990	Enterprise Savings Bank, F.A.	Chicago, IL	$432.6M
Dec 21, 1990	Arkansas FSB	Little Rock, AR	$71.7M
Dec 15, 1990	Mid-America FS & La	Columbus, OH	$1.21B
Dec 14, 1990	Community FS & La	St. Louis, MO	$1.98B
Dec 14, 1990	Comfed Savings Bank	Lowell, MA	$1.40B

All 1990 events ›

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