Bank failure · IL

American Sb (Springfield, IL) — failed December 29, 1988

American Sb of Springfield, Illinois was closed on December 29, 1988 and resolved through a a/a. Citizens Savings (FL) took over its insured deposits. At failure it held $887.0M in assets and $845.6M in deposits. The FDIC's estimated loss on the failure is $176.1M (19.9% of assets).