Data / Bank failures / 1991 / First Fsa of Waynesboro
First Fsa of Waynesboro, Waynesboro, TN: failed February 8, 1991
First Fsa of Waynesboro in Waynesboro, Tennessee, failed on February 8, 1991. Wayne County Bank of Waynesboro, TN, took over its deposits. It held $18.2 million in assets and $18.1 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $2.1 million (11.7% of its assets). By assets it was the 245th largest of 271 banks closed or assisted in 1991.
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The FDIC's record
- Closed
- February 8, 1991
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Wayne County Bank, Waynesboro, TN
- Total assets
- $18,165,000
- Total deposits
- $18,137,000
- Estimated cost to the FDIC
- $2,118,899 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- RTC
- FDIC certificate
- 29585
Other bank failures in Tennessee, 1989 to 1993
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Cherokee Valley Fsa | Cleveland | June 12, 1992 | $142.5 million | $124.4 million | $347 | |
| Metropolitan FS & La | Nashville | April 19, 1991 | $985.1 million | $811.8 million | $112.2 million | Union Planters NB |
| George Washington Fsa | Jonesborough | February 1, 1991 | $14.6 million | $13.3 million | $1.3 million | Home FS&LA of Upper E. TN |
| First National Bank of Jackson | Jackson | October 25, 1990 | $73.7 million | $69.9 million | $5.2 million | First Tennessee Bank, Natio |
| Tennessee Federal Savings Bank | Cookeville | August 3, 1990 | $40 million | $36 million | $10.9 million | Peoples B&T of Cumberlands |
| Investors Savings Bank | Nashville | March 9, 1990 | $81.1 million | $65.8 million | $16.1 million | Amsouth Bank of TN |
| Home Federal S & L Assoc. | Memphis | July 20, 1989 | $204.3 million | $164.3 million | $20 million | First Commercial BK at Memp |
| Germantown Trust Savings | Germantown | March 9, 1989 | $135.9 million | $105.9 million | $38.2 million | NB of Commerce |
All bank failures in 1991 · All bank failures in Tennessee · 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.