Bank failure · IA

First Financial Sb (Des Moines, IA) — failed December 28, 1988

First Financial Sb of Des Moines, Iowa was closed on December 28, 1988 and resolved through a a/a. Metropolitan Federal Bank O (IA) took over its insured deposits. At failure it held $262.7M in assets and $211.4M in deposits. The FDIC's estimated loss on the failure is $85.7M (32.6% of assets).