Bank Failure
Firstsouth FS&LA
BankRegReports is independent of Firstsouth FS&LA and never asks for online banking logins or passwords.
Closed December 5, 1986 · Pine Bluff, AR · FDIC Cert #29048.
- Closing date
- December 5, 1986
- Headquarters
- Pine Bluff, AR
- FDIC Certificate
- 29048
- Total assets at closing
- $1.68B
- Total deposits at closing
- $1.50B
- Estimated loss to the insurance fund
- $1.70B
- Insurance fund
- Federal Savings and Loan Insurance Corporation (FSLIC)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Home FS&LA
Context
On December 5, 1986, regulators closed Firstsouth FS&LA, headquartered in Pine Bluff, AR. At closing, the institution held approximately $1.68B in assets and $1.50B in deposits. The FDIC record names Home FS&LA as the acquiring institution in the resolution. The estimated cost to the Federal Savings and Loan Insurance Corporation (FSLIC) was approximately $1.70B.
By assets at closing this is the 134th largest of the 3,526 bank failures in the FDIC record, and the 3rd of 162 in 1986. 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 Firstsouth FS&LA fail?
Firstsouth FS&LA was closed by regulators on December 5, 1986.
Who acquired Firstsouth FS&LA?
The FDIC record names Home FS&LA as the acquiring institution in the resolution of Firstsouth FS&LA.
How big was Firstsouth FS&LA when it failed?
Firstsouth FS&LA had approximately $1.68B in total assets and $1.50B in deposits at the time of failure.
Other failures in 1986
| Date | Bank | Assets |
|---|---|---|
| Dec 19, 1986 | Lakeland State Bank | $49.4M |
| Dec 19, 1986 | Farmers State Bank | $9.7M |
| Dec 18, 1986 | First Bank & Trust Co. | $94.9M |
| Dec 18, 1986 | Landmark National Bank | $12.9M |
| Dec 18, 1986 | Lago Vista National Bank | $11.9M |
| Dec 12, 1986 | Guaranty Federal Bank FSB | $63.8M |
| Dec 12, 1986 | First Savings of America | $47.0M |
| Dec 9, 1986 | The Citizens Bank of Windsor | $24.8M |
Explore: all failures · AR bank events · 1986 events · events hub