Bank failure · IL
First Fed. Savings Bank (East Alton, IL) — failed April 6, 1989
First Fed. Savings Bank of East Alton, Illinois was closed on April 6, 1989 and resolved through a insured deposit transfer. Illinois State B&t (IL) took over its insured deposits. At failure it held $55.6M in assets and $55.7M in deposits. The FDIC's estimated loss on the failure is $7.2M (13.0% of assets).
- Closing date
- April 6, 1989
- FDIC certificate #
- 28228
- Resolution
- Insured deposit transfer (failure)
- Acquiring institution
- Illinois State B&t
- Insurance fund
- RTC
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