Bank failure · IA

Perpetual S&la (Waterloo, IA) — failed March 11, 1988

Perpetual S&la of Waterloo, Iowa was closed on March 11, 1988 and resolved through a a/a. Statesman Bank for Svg FSB (IA) took over its insured deposits. At failure it held $112.8M in assets and $110.9M in deposits. The FDIC's estimated loss on the failure is $20.9M (18.5% of assets).