Bank failure · IL
Madison County Fed. S & L Assoc. (Granite City, IL) — failed March 16, 1989
Madison County Fed. S & L Assoc. of Granite City, Illinois was closed on March 16, 1989 and resolved through a insured deposit transfer. First Bank of Illinois (IL) took over its insured deposits. At failure it held $132.2M in assets and $131.4M in deposits. The FDIC's estimated loss on the failure is $24.4M (18.4% of assets).
- Closing date
- March 16, 1989
- FDIC certificate #
- 27762
- Resolution
- Insured deposit transfer (failure)
- Acquiring institution
- First Bank of Illinois
- Insurance fund
- RTC
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