Data / Bank failures / 1982 / First FS&LA of Suffolk
First FS&LA of Suffolk, Suffolk, VA: received FDIC assistance August 6, 1982
First FS&LA of Suffolk in Suffolk, Virginia, received open bank assistance from the FDIC on August 6, 1982. It held $102.7 million in assets and $81.6 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $18.7 million (18.2% of its assets). By assets it was the 54th largest of 119 banks closed or assisted in 1982.
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The FDIC's record
- Closed
- August 6, 1982
- Type
- Open bank assistance
- How it was resolved
- Open bank assistance: the FDIC assisted the bank without closing it
- Acquirer
- Citizens S&LA FA, Richmond, VA
- Total assets
- $102,727,235
- Total deposits
- $81,623,147
- Estimated cost to the FDIC
- $18,736,000 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- FSLIC
- FDIC certificate
- 30796
Other bank failures in Virginia, 1980 to 1984
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Union Mutual S&LA | Richmond | January 27, 1984 | $8.6 million | $7.9 million | ||
| MT. Vernon S&LA (assistance) | Rosslyn | August 5, 1983 | $117.8 million | $118 million | $18.6 million | First Florida FSB |
| Middle Pnsla NRTH. Neck FS&LA (assistance) | Gloucester | August 5, 1983 | $44.7 million | $41.9 million | $4.3 million | First Florida FSB |
| Peninsula FS&LA (assistance) | Newport News | March 5, 1983 | $95.9 million | $76.1 million | $1.9 million | Bay Savings Bank FSB |
| First FS&LA of Newport News (assistance) | Newport News | March 5, 1983 | $94.6 million | $86.3 million | $4.4 million | Bay Savings Bank, FSB |
| Aquia BK & TR Company | Stafford | April 3, 1982 | $14 million | $12.2 million | $3.5 million | Peoples Bank of Danville |
All bank failures in 1982 · All bank failures in Virginia · 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.