Bank failure · IL
Fidelity Federal Savings Assoc. (Galesburg, IL) — failed November 9, 1989
Fidelity Federal Savings Assoc. of Galesburg, Illinois was closed on November 9, 1989 and resolved through a purchase and assumption. First Bank, a Sb (MO) took over its insured deposits. At failure it held $393.8M in assets and $361.6M in deposits. The FDIC's estimated loss on the failure is $46.6M (11.8% of assets).
- Closing date
- November 9, 1989
- FDIC certificate #
- 27821
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- First Bank, a Sb
- Insurance fund
- RTC
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