Bank failure · IA

Northwest Fs&la (Spencer, IA) — failed December 30, 1988

Northwest Fs&la of Spencer, Iowa was closed on December 30, 1988 and resolved through a a/a. Northwest FSB (IA) took over its insured deposits. At failure it held $129.1M in assets and $144.6M in deposits. The FDIC's estimated loss on the failure is $66.5M (51.6% of assets).