Data / Bank failures / 1990 / First FS & La of Andalusia
First FS & La of Andalusia, Andalusia, AL: failed December 28, 1990
First FS & La of Andalusia in Andalusia, Alabama, failed on December 28, 1990. Colonial Bank of Montgomery, AL, took over its deposits. It held $38.7 million in assets and $37.7 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $6.3 million (16.4% of its assets). By assets it was the 248th largest of 382 banks closed or assisted in 1990.
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The FDIC's record
- Closed
- December 28, 1990
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Colonial Bank, Montgomery, AL
- Total assets
- $38,693,000
- Total deposits
- $37,738,000
- Estimated cost to the FDIC
- $6,331,858 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- RTC
- FDIC certificate
- 29116
Other bank failures in Alabama, 1988 to 1992
| 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 | |
| Altus FSB | Mobile | May 17, 1991 | $1.97 billion | $1.15 billion | $71.2 million | |
| Jefferson Federal Sa | Birmingham | March 8, 1991 | $666.5 million | $488.7 million | $17.5 million | |
| 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 1990 · 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.