Bank failure · IL
Germania Bank, FSB (Alton, IL) — failed June 22, 1990
Germania Bank, FSB of Alton, Illinois was closed on June 22, 1990 and resolved through a purchase and assumption. Mercantile Bank of St. Loui (MO) took over its insured deposits. At failure it held $785.5M in assets and $663.3M in deposits. The FDIC's estimated loss on the failure is $60.7M (7.7% of assets).
- Closing date
- June 22, 1990
- FDIC certificate #
- 30353
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Mercantile Bank of St. Loui
- Insurance fund
- RTC
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