Data / Bank failures / 1989 / United Guaranty Fed. Savings Bank
United Guaranty Fed. Savings Bank, Tullahoma, TN: failed March 9, 1989
United Guaranty Fed. Savings Bank in Tullahoma, Tennessee, failed on March 9, 1989. Franklin County Bank of Winchester, TN, took over its deposits. It held $11.5 million in assets and $13.1 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $2.7 million (23.4% of its assets). By assets it was the 492nd largest of 534 banks closed or assisted in 1989.
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The FDIC's record
- Closed
- March 9, 1989
- Type
- Failure
- How it was resolved
- Insured deposit transfer: the insured deposits moved to another bank
- Acquirer
- Franklin County Bank, Winchester, TN
- Total assets
- $11,474,000
- Total deposits
- $13,068,000
- Estimated cost to the FDIC
- $2,686,873 (estimate as of July 31, 2026)
- Charter
- Savings bank
- Insurance fund
- RTC
- FDIC certificate
- 31829
Other bank failures in Tennessee, 1987 to 1991
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Metropolitan FS & La | Nashville | April 19, 1991 | $985.1 million | $811.8 million | $112.2 million | Union Planters NB |
| First Fsa of Waynesboro | Waynesboro | February 8, 1991 | $18.2 million | $18.1 million | $2.1 million | Wayne County Bank |
| George Washington Fsa | Jonesborough | February 1, 1991 | $14.6 million | $13.3 million | $1.3 million | Home FS&LA of Upper E. TN |
| First National Bank of Jackson | Jackson | October 25, 1990 | $73.7 million | $69.9 million | $5.2 million | First Tennessee Bank, Natio |
| Tennessee Federal Savings Bank | Cookeville | August 3, 1990 | $40 million | $36 million | $10.9 million | Peoples B&T of Cumberlands |
| Investors Savings Bank | Nashville | March 9, 1990 | $81.1 million | $65.8 million | $16.1 million | Amsouth Bank of TN |
| Home Federal S & L Assoc. | Memphis | July 20, 1989 | $204.3 million | $164.3 million | $20 million | First Commercial BK at Memp |
| Germantown Trust Savings | Germantown | March 9, 1989 | $135.9 million | $105.9 million | $38.2 million | NB of Commerce |
All bank failures in 1989 · All bank failures in Tennessee · 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.