Bank failure · IL

First Fs&la of Freeport (Freeport, IL) — failed May 28, 1985

First Fs&la of Freeport of Freeport, Illinois was closed on May 28, 1985 and resolved through a a/a. Home Fs&la of Rockford (IL) took over its insured deposits. At failure it held $63.3M in assets and $45.7M in deposits. The FDIC's estimated loss on the failure is $13.6M (21.5% of assets).