Bank failure · SD

Perpetual S&la (Rapid City, SD) — failed September 15, 1981

Perpetual S&la of Rapid City, South Dakota was closed on September 15, 1981 and resolved through a a/a. First Fs&la of Rapid City (SD) took over its insured deposits. At failure it held $49.7M in assets and $39.2M in deposits. The FDIC's estimated loss on the failure is $9.4M (18.9% of assets).