Bank failure · IN

Arsenal Sa (Indianapolis, IN) — failed September 1, 1988

Arsenal Sa of Indianapolis, Indiana was closed on September 1, 1988 and resolved through a a/a. Union FSB of Indianapolis (IN) took over its insured deposits. At failure it held $158.3M in assets and $178.7M in deposits. The FDIC's estimated loss on the failure is $44.8M (28.3% of assets).