Data / Bank failures / 1987 / Phenix FS&LA
Phenix FS&LA, Phenix City, AL: failed September 18, 1987
Phenix FS&LA in Phenix City, Alabama, failed on September 18, 1987. It held $225.5 million in assets and $235.5 million in deposits at its last report. By assets it was the 20th largest of 262 banks closed or assisted in 1987.
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The FDIC's record
- Closed
- September 18, 1987
- Type
- Failure
- Total assets
- $225,532,000
- Total deposits
- $235,485,000
- Charter
- Savings and loan association
- Insurance fund
- FSLIC
- FDIC certificate
- 31665
Other bank failures in Alabama, 1985 to 1989
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| City FS & La | Birmingham | March 30, 1989 | $712 million | $648.2 million | $53.3 million | First Alabama Bank |
| Baldwin County Fed. Savings Bank | Robertsdale | March 30, 1989 | $171.5 million | $156.8 million | $7.3 million | First Alabama Bank |
| Phenix Fed. S & L Assoc. | Phenix City | March 9, 1989 | $150.3 million | $194.8 million | $69.9 million | |
| First Savings Bank of Alabama | Hamilton | March 9, 1989 | $26 million | $24 million | $1.9 million | Southtrust Bank of Marion C |
| Guaranty Fed. S & L Assoc. | Birmingham | February 17, 1989 | $381.3 million | $398.6 million | $55.9 million | Southtrust Affliated Banks |
| Coosa FS&LA (assistance) | Gadsden | September 6, 1988 | $72.1 million | $76.2 million | $13.1 million | Secor Savings Bank FSB |
| Gulf FS&LA (assistance) | Mobile | November 12, 1987 | $6.1 million | $6.5 million | $1.3 million | Gulf Federal Bank A FSB |
| The Peoples Bank | Collinsville | April 22, 1987 | $11.9 million | $11.9 million | $934,187 | Bank of Geraldine |
All bank failures in 1987 · 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.