Bank failure · IA

First Fs & LA of Creston (Creston, IA) — failed May 10, 1991

First Fs & LA of Creston of Creston, Iowa was closed on May 10, 1991 and resolved through a purchase and assumption. First FSB of Creston (IA) took over its insured deposits. At failure it held $67.3M in assets and $67.9M in deposits. The FDIC's estimated loss on the failure is $1.8M (2.6% of assets).