Bank failure · IN

Frankton Fs&la (Frankton, IN) — failed September 1, 1988

Frankton Fs&la of Frankton, Indiana was closed on September 1, 1988 and resolved through a a/a. Union FSB of Frankton (IN) took over its insured deposits. At failure it held $30.6M in assets and $33.1M in deposits. The FDIC's estimated loss on the failure is $3.0M (9.8% of assets).