Bank failure · IA

First Federal Savings Bank (Waterloo, IA) — failed March 11, 1988

First Federal Savings Bank of Waterloo, Iowa was closed on March 11, 1988 and resolved through a a/a. Statesman Bank for Svg FSB (IA) took over its insured deposits. At failure it held $152.3M in assets and $174.0M in deposits. The FDIC's estimated loss on the failure is $82.5M (54.1% of assets).