Data / Bank failures / 1983 / Peninsula FS&LA
Peninsula FS&LA, Newport News, VA: received FDIC assistance March 5, 1983
Peninsula FS&LA in Newport News, Virginia, received open bank assistance from the FDIC on March 5, 1983. It held $95.9 million in assets and $76.1 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $1.9 million (1.9% of its assets). By assets it was the 33rd largest of 99 banks closed or assisted in 1983.
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The FDIC's record
- Closed
- March 5, 1983
- Type
- Open bank assistance
- How it was resolved
- Open bank assistance: the FDIC assisted the bank without closing it
- Acquirer
- Bay Savings Bank FSB, Newport News, VA
- Total assets
- $95,850,806
- Total deposits
- $76,111,840
- Estimated cost to the FDIC
- $1,863,290 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- FSLIC
- FDIC certificate
- 31306
Other bank failures in Virginia, 1981 to 1985
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Family FS&LA (assistance) | Springfield | September 27, 1985 | $57.1 million | $71.2 million | $776,000 | Columbia First FS&LA |
| Northern Virginia S&LA (assistance) | Arlington | May 2, 1985 | $237.2 million | $240.6 million | $18.9 million | Northern Virginia S&LA A FA |
| 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 |
| 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 |
| First FS&LA of Suffolk (assistance) | Suffolk | August 6, 1982 | $102.7 million | $81.6 million | $18.7 million | Citizens S&LA FA |
| Aquia BK & TR Company | Stafford | April 3, 1982 | $14 million | $12.2 million | $3.5 million | Peoples Bank of Danville |
All bank failures in 1983 · 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.