Data / Bank failures / 1992 / Peidmont Fsa
Peidmont Fsa, Manassas, VA: failed October 9, 1992
Peidmont Fsa in Manassas, Virginia, failed on October 9, 1992. Crestar Bank of Richmond, VA, took over its deposits. It held $444.6 million in assets and $370.1 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $75.6 million (17% of its assets). By assets it was the 37th largest of 181 banks closed or assisted in 1992.
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The FDIC's record
- Closed
- October 9, 1992
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Crestar Bank, Richmond, VA
- Total assets
- $444,605,000
- Total deposits
- $370,085,000
- Estimated cost to the FDIC
- $75,636,095 (estimate as of July 31, 2026)
- Charter
- Savings bank
- Insurance fund
- RTC
- FDIC certificate
- 28998
Other bank failures in Virginia, 1990 to 1994
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| New Atlantic Bank, NA | Norfolk | August 12, 1993 | $15.1 million | $14.4 million | $792,379 | Bank of Hampton Roads |
| Sailors & Merchants B&T Co. | Vienna | December 11, 1992 | $34.8 million | $34.5 million | $5 million | First Union Bank of Virg |
| The Washington Bank | Fairfax County | September 18, 1992 | $28.1 million | $27.9 million | $5.1 million | George Mason Bank |
| Liberty FSB | Warrenton | July 17, 1992 | $92 million | $86.9 million | $12.3 million | Jefferson NB |
| Home FSB | Norfolk | July 10, 1992 | $224.2 million | $195.2 million | $42.8 million | Home SB, FSB |
| Federal Sa of Virginia | Falls Church | April 10, 1992 | $31.5 million | $29.6 million | $14.5 million | Fairfax B&TC |
| Commonwealth FSB | Manassas | April 3, 1992 | $72.5 million | $64.8 million | $16.4 million | Fairfax B&TC |
| Vista Fsa | Reston | February 28, 1992 | $113.2 million | $108.7 million | $36.9 million | Eastern American Bank, FSB |
Other failed banks Crestar Bank took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Perpetual Savings Bank | Vienna | VA | January 10, 1992 | $2.89 billion | $2.45 billion | $453.7 million | Crestar Bank |
| United FSB | Vienna | VA | July 31, 1990 | $415.6 million | $352.7 million | $134.5 million | Crestar Bank |
| Security FS & La | Richmond | VA | March 2, 1990 | $341.6 million | $237.5 million | $24 million | Crestar Bank |
| Seasons Federal Savings Bank | Richmond | VA | October 19, 1989 | $260.8 million | $213.7 million | $49.4 million | Crestar Bank |
All bank failures in 1992 · All bank failures in Virginia · Every failed bank Crestar Bank took over · 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.