Data / Bank failures / 1991 / First FS & La
First FS & La, Dallas, GA: failed February 22, 1991
First FS & La in Dallas, Georgia, failed on February 22, 1991. Etowah Bank of Canton, GA, took over its deposits. It held $37.5 million in assets and $36.2 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $4.1 million (10.9% of its assets). By assets it was the 191st largest of 271 banks closed or assisted in 1991.
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The FDIC's record
- Closed
- February 22, 1991
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Etowah Bank, Canton, GA
- Total assets
- $37,523,000
- Total deposits
- $36,235,000
- Estimated cost to the FDIC
- $4,090,970 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- RTC
- FDIC certificate
- 31206
Other bank failures in Georgia, 1989 to 1993
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| First FSB of Georgia, FA | Winder | November 6, 1992 | $108.2 million | $97.5 million | $4.4 million | |
| Southern Fsa of Georgia | Atlanta | July 10, 1992 | $160 million | $151.4 million | $8.4 million | |
| First Community Bank of Cherokee | Woodstock | March 31, 1992 | $35.6 million | $33.7 million | $6.9 million | Etowah Bank |
| The Citizens Bank | Dallas | January 10, 1992 | $60.6 million | $59.1 million | $12.7 million | First NB of Paulding Cou |
| Cobb Fsa | Marietta | November 8, 1991 | $83.2 million | $82.8 million | $25.5 million | First Union NB of Ga |
| United FS & La | Smyrna | May 31, 1991 | $119.3 million | $106 million | $11 million | |
| Guaranty Fsa | Warner Robins | May 10, 1991 | $25.6 million | $23.6 million | $9.8 million | Crossroads Bank of Ga |
| First Federal SB, FSB | Ashburn | April 5, 1991 | $30.2 million | $30.6 million | $2.7 million |
Other failed banks Etowah Bank took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| First Community Bank of Cherokee | Woodstock | GA | March 31, 1992 | $35.6 million | $33.7 million | $6.9 million | Etowah Bank |
All bank failures in 1991 · All bank failures in Georgia · Every failed bank Etowah Bank took over · 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.