Bank failure · IL
Concordia Federal Bank for Savings (Lansing, IL) — failed February 17, 1989
Concordia Federal Bank for Savings of Lansing, Illinois was closed on February 17, 1989 and resolved through a purchase and assumption. Advance Fb for Savings (IL) took over its insured deposits. At failure it held $468.8M in assets and $423.9M in deposits. The FDIC's estimated loss on the failure is $63.2M (13.5% of assets).
- Closing date
- February 17, 1989
- FDIC certificate #
- 29383
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Advance Fb for Savings
- Insurance fund
- RTC
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