Bank failure · IA

Midamerica Sb (Waterloo, IA) — failed December 12, 1988

Midamerica Sb of Waterloo, Iowa was closed on December 12, 1988 and resolved through a a/a. Midamerica Savings Bank (IA) took over its insured deposits. At failure it held $244.3M in assets and $232.3M in deposits. The FDIC's estimated loss on the failure is $14.0M (5.7% of assets).