Bank failure · IA

First Federal Savings Bank (Shenadoah, IA) — failed August 11, 1988

First Federal Savings Bank of Shenadoah, Iowa was closed on August 11, 1988 and resolved through a a/a. First Fs&la of Lincoln-Iowa (IA) took over its insured deposits. At failure it held $20.7M in assets and $22.7M in deposits. The FDIC's estimated loss on the failure is $2.2M (10.4% of assets).