Data / Bank failures / 1991 / Altus FSB
Altus FSB, Mobile, AL: failed May 17, 1991
Altus FSB in Mobile, Alabama, failed on May 17, 1991. It held $1.97 billion in assets and $1.15 billion in deposits at its last report. The FDIC estimates the cost to its insurance fund at $71.2 million (3.6% of its assets). By assets it was the 16th largest of 271 banks closed or assisted in 1991.
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The FDIC's record
- Closed
- May 17, 1991
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- None, NA
- Total assets
- $1,970,413,000
- Total deposits
- $1,154,520,000
- Estimated cost to the FDIC
- $71,167,303 (estimate as of July 31, 2026)
- Charter
- Savings bank
- Insurance fund
- RTC
- FDIC certificate
- 29002
Other bank failures in Alabama, 1989 to 1993
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Birmingham FSB | Birmingham | August 21, 1992 | $91.8 million | $82.1 million | $3.4 million | First Commercial Bank |
| First Russell County | Phenix City | July 24, 1992 | $87 million | $80.5 million | $390,344 | |
| Jefferson Federal Sa | Birmingham | March 8, 1991 | $666.5 million | $488.7 million | $17.5 million | |
| First FS & La of Andalusia | Andalusia | December 28, 1990 | $38.7 million | $37.7 million | $6.3 million | Colonial Bank |
| Tuskegee S & La | Tuskegee | November 30, 1990 | $31.8 million | $28.5 million | $15.3 million | First Tuskegee Bank |
| City FS & La | Birmingham | March 30, 1989 | $712 million | $648.2 million | $53.3 million | First Alabama Bank |
| Baldwin County Fed. Savings Bank | Robertsdale | March 30, 1989 | $171.5 million | $156.8 million | $7.3 million | First Alabama Bank |
| Phenix Fed. S & L Assoc. | Phenix City | March 9, 1989 | $150.3 million | $194.8 million | $69.9 million |
All bank failures in 1991 · All bank failures in Alabama · The full failed bank list
Read from the FDIC's failures data (BankFind), last updated 2026-10-23. Assets and deposits are as of the last report before failure; the estimated cost is the FDIC's latest estimate of the loss to its insurance fund and changes as the receivership winds down. Free to reuse with credit to SpecStream under CC BY 4.0.