Bank failure · IA

Security S&la (Marion, IA) — failed September 1, 1980

Security S&la of Marion, Iowa was closed on September 1, 1980 and resolved through a a/a. Midland Financial S&la (IA) took over its insured deposits. At failure it held $54.6M in assets and $44.3M in deposits. The FDIC's estimated loss on the failure is $2.0M (3.7% of assets).