Data / Bank failures / 1988 / First FS&LA
First FS&LA, Columbus, GA: received FDIC assistance December 1, 1988
First FS&LA in Columbus, Georgia, received open bank assistance from the FDIC on December 1, 1988. It held $265.7 million in assets and $241.6 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $817,000 (0.3% of its assets). By assets it was the 79th largest of 470 banks closed or assisted in 1988.
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The FDIC's record
- Closed
- December 1, 1988
- Type
- Open bank assistance
- How it was resolved
- Open bank assistance: the FDIC assisted the bank without closing it
- Acquirer
- Barnett FSB, Columbus, GA
- Total assets
- $265,719,000
- Total deposits
- $241,623,000
- Estimated cost to the FDIC
- $817,000 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- FSLIC
- FDIC certificate
- 29362
Other bank failures in Georgia, 1986 to 1990
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Moultrie Savings Bank FSB | Moultrie | June 15, 1990 | $65.8 million | $52.7 million | $2.5 million | Moultrie NB |
| First Federal Savings & Loan | Warner Robins | April 12, 1990 | $150.1 million | $144.1 million | $15 million | CB&T Bank of Middle Ga |
| First Fed. S & L Assoc. | Americus | June 22, 1989 | $54.4 million | $49.8 million | $8.8 million | Sumter Bank & Trust |
| Great Southern Federal Savings | Savannah | June 22, 1989 | $880.2 million | $629.9 million | $146.5 million | First Wachovia |
| Habersham Federal Sa | Cornelia | June 22, 1989 | $93.3 million | $90.8 million | $36 million | First Commerce Bank |
| Cartersville FSB of Georgia (assistance) | Cartersville | March 30, 1989 | $56.7 million | $58.7 million | Prudential Savings Bank FSB | |
| First Fed. S & L Assoc. | Summerville | March 9, 1989 | $32.8 million | $35.4 million | $5.2 million | Interfederal SB |
| First Fed. S & L Assoc. | Atlanta | March 9, 1989 | $301 million | $249.8 million | $18.2 million | Merchant Bank of Atlanta |
All bank failures in 1988 · All bank failures in Georgia · 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.