Data / Bank failures / 1990 / First Jackson FSB
First Jackson FSB, Jackson, MS: failed June 29, 1990
First Jackson FSB in Jackson, Mississippi, failed on June 29, 1990. Trustmark NB of Jackson, MS, took over its deposits. It held $116.5 million in assets and $91.4 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $22 million (18.8% of its assets). By assets it was the 145th largest of 382 banks closed or assisted in 1990.
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The FDIC's record
- Closed
- June 29, 1990
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Trustmark NB, Jackson, MS
- Total assets
- $116,519,000
- Total deposits
- $91,386,000
- Estimated cost to the FDIC
- $21,955,851 (estimate as of July 31, 2026)
- Charter
- Savings bank
- Insurance fund
- RTC
- FDIC certificate
- 31640
Other bank failures in Mississippi, 1988 to 1992
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Security FS & La | Jackson | October 16, 1992 | $276.5 million | $271.4 million | $42.6 million | |
| Foxworth Bank | Foxworth | August 7, 1992 | $36.5 million | $36 million | $5.4 million | Trustmark National Bank |
| Mercantile Savings Bank | Southaven | April 19, 1991 | $33.8 million | $34 million | $9.1 million | First TN Bank NA, MS |
| Peoples Federal Savings Bank | Bay ST. Louis | February 8, 1991 | $59.7 million | $53.9 million | $2.1 million | Hancock Bank |
| First City FSB | Lucedale | September 7, 1990 | $41.7 million | $38 million | $9 million | Magnolia FB for Savings |
| Charter Bank, A FSB | Hattiesburg | July 20, 1990 | $130.8 million | $68.9 million | $22.6 million | |
| Southern Federal Bank for Savings | Gulfport | June 22, 1990 | $142.8 million | $93.9 million | $35 million | |
| Mississippi Savings Bank, FSB | Batesville | May 8, 1990 | $172.3 million | $148.7 million | $16.3 million |
All bank failures in 1990 · All bank failures in Mississippi · 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.