Southeast Banking Corp. - 1990 dated Stock Certificate
Inv# BS1401 Stock
Stock printed by Security Columbian United States Banknote Corporation. Stock printed by Security Columbian United States Banknote Corporation. Southeast Banking Corporation was a bank holding company based in Miami, Florida. On Friday, September 19, 1991, during the savings and loan crisis, Southeast failed and was seized by the Office of the Comptroller of the Currency. It was placed into the receivership of the Federal Deposit Insurance Corporation (FDIC), who sold almost all of Southeast's assets to First Union. The bank failure is notable since it is one of the first instances of the FDIC liquidating a bank using loss sharing provisions. As a result of several mergers over the next two decades, most of what was once Southeast is now part of Wells Fargo. Southeast was founded as the First National Bank of Miami on December 1, 1902. It was one of only two banks in Miami to survive the Great Depression. By 1946, it was the largest bank in Florida. Read more at https://en.wikipedia.org/wiki/Southeast_Banking_Corporation
A stock certificate is issued by businesses, usually companies. A stock is part of the permanent finance of a business. Normally, they are never repaid, and the investor can recover his/her money only by selling to another investor. Most stocks, or also called shares, earn dividends, at the business's discretion, depending on how well it has traded. A stockholder or shareholder is a part-owner of the business that issued the stock certificates.
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