Bank failure · IL

American Sa of Mt. Carmel (Mt. Carmel, IL) — failed August 10, 1990

American Sa of Mt. Carmel of Mt. Carmel, Illinois was closed on August 10, 1990 and resolved through a purchase and assumption. Union FSB (IN) took over its insured deposits. At failure it held $11.9M in assets and $11.8M in deposits. The FDIC's estimated loss on the failure is $1.8M (15.2% of assets).