Bank Failure
FIRST SA
Closed November 30, 1990 · PARAGOULD, AR · FDIC Cert #29466.
- Closing date
- November 30, 1990
- Headquarters
- PARAGOULD, AR
- FDIC Certificate
- 29466
- Total assets at closing
- $64,124,000
- Total deposits at closing
- $46,665,000
- Estimated loss to DIF
- $24,622,000
- Resolution type
- other
- Acquirer
- PEOPLES BANK (FDIC Cert #7445)
Context
On November 30, 1990, regulators closed FIRST SA, headquartered in PARAGOULD, AR. At closing, the institution held approximately $64,124,000 in assets and $46,665,000 in deposits. The FDIC arranged a resolution under which PEOPLES BANK acquired the failed bank's operations. The estimated cost to the FDIC Deposit Insurance Fund was approximately $24,622,000.
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 | $485,550,000 |
| 1990-12-28 | SOUTHERN FS | NEW ORLEANS, LA | $230,780,000 |
| 1990-12-28 | FIRST FS & LA OF ANDALUSIA | ANDALUSIA, AL | $38,693,000 |
| 1990-12-27 | ENTERPRISE SAVINGS BANK, FA | CHICAGO, IL | $432,576,000 |
| 1990-12-21 | ARKANSAS FSB | LITTLE ROCK, AR | $71,705,000 |
| 1990-12-15 | MID-AMERICA FS & LA | COLUMBUS, OH | $1,206,441,000 |
| 1990-12-14 | COMMUNITY FS & LA | ST. LOUIS, MO | $1,977,010,000 |
| 1990-12-14 | COMFED SAVINGS BANK | LOWELL, MA | $1,402,978,000 |
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