Data / Bank failures / 1990 / Southeastern Federal Savings Bank
Southeastern Federal Savings Bank, Laurel, MS: failed April 20, 1990
Southeastern Federal Savings Bank in Laurel, Mississippi, failed on April 20, 1990. Citizens NB of Meridian of Meridian, MS, took over its deposits. It held $49.8 million in assets and $38.4 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $8.9 million (17.9% of its assets). By assets it was the 224th largest of 382 banks closed or assisted in 1990.
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The FDIC's record
- Closed
- April 20, 1990
- Type
- Failure
- How it was resolved
- Insured deposit transfer: the insured deposits moved to another bank
- Acquirer
- Citizens NB of Meridian, Meridian, MS
- Total assets
- $49,813,000
- Total deposits
- $38,391,000
- Estimated cost to the FDIC
- $8,914,360 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- RTC
- FDIC certificate
- 31897
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 | |
| First Jackson FSB | Jackson | June 29, 1990 | $116.5 million | $91.4 million | $22 million | Trustmark NB |
| Southern Federal Bank for Savings | Gulfport | June 22, 1990 | $142.8 million | $93.9 million | $35 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.