Data / Bank failures / 1992 / First Russell County
First Russell County, Phenix City, AL: failed July 24, 1992
First Russell County in Phenix City, Alabama, failed on July 24, 1992. It held $87 million in assets and $80.5 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $390,344 (0.4% of its assets). By assets it was the 95th largest of 181 banks closed or assisted in 1992.
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The FDIC's record
- Closed
- July 24, 1992
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- None, NA
- Total assets
- $86,987,000
- Total deposits
- $80,457,000
- Estimated cost to the FDIC
- $390,344 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- RTC
- FDIC certificate
- 29418
Other bank failures in Alabama, 1990 to 1994
| 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 |
| 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 | |
| First FS & La of Andalusia | Andalusia | December 28, 1990 | $38.7 million | $37.7 million | $6.3 million | Colonial Bank |
| Tuskegee S & La | Tuskegee | November 30, 1990 | $31.8 million | $28.5 million | $15.3 million | First Tuskegee Bank |
All bank failures in 1992 · 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.