Bank failure · MN

Peoples S&la (Owantonna, MN) — failed August 26, 1988

Peoples S&la of Owantonna, Minnesota was closed on August 26, 1988 and resolved through a a/a. Metropolitan Fed Bk FSB (ND) took over its insured deposits. At failure it held $210.8M in assets and $203.7M in deposits. The FDIC's estimated loss on the failure is $35.5M (16.8% of assets).