Great Southern Federal Savings Bank
Savannah, GA
$880M
total assets, March 31, 1989
$880M
total assets, March 31, 1989
Great Southern Federal Savings Bank was a savings bank in Savannah, GA. It failed on Jun 22, 1989, and First Wachovia took over its deposits. At its last report it held $880.2 million in assets.
Updated Oct 11, 2026 · numbers as of March 31, 1989
This bank failed
- Failed on
- Jun 22, 1989
- Assets
- $880M
- Deposits
- $630M
- Estimated cost
- $146M
- Deposits went to
- First Wachovia, Atlanta, GA
Total assets
$880M
-12.1% in a year · -11.4% in a quarter
Deposits
$630M
-9.9% in a year · -8.5% in a quarter
Loans
$499M
-12.8% in a year · -3.6% in a quarter
Profit so far
-$115M
Jan 1 to Mar 31, 1989
Capital ratio
0.00%
0.00 pts in a year
Return on assets
-49.15%
-46.65 pts in a year
Facts
- Type
- Savings bank
- Head office
- 132 East Broughton, Savannah, GA, 31401
- County
- Chatham
- Established
- Aug 28, 1935
- Failed
- Jun 22, 1989
- Id
- b29507
Quarter by quarter
March 31, 1984 to March 31, 1989
Assets, deposits and loans
Each quarter end, US dollars
Profit by quarter
Net income of each quarter, the last 12
Ratios
Percent. Return on assets and net interest margin are yearly rates.
Related pages
Questions and answers
How big is Great Southern Federal Savings Bank?
$880.2 million in total assets and $629.9 million in deposits as of March 31, 1989, with assets down 12.1% from a year before. Its loans were $498.6 million.
Is Great Southern Federal Savings Bank profitable?
No: it lost $115.1 million from January 1 to March 31, 1989. Its return on assets was -49.15% a year; about 1% is typical.
When did Great Southern Federal Savings Bank fail?
Jun 22, 1989. First Wachovia of Atlanta, GA took over its deposits. The estimated cost of the failure was $146.5 million.
Official public data from the reports every insured bank files each quarter. Profit so far runs from January 1 to the quarter end. Branch deposits are counted once a year, as of June 30. New quarters appear about two months after the quarter ends.