Data / Bank failures / 1983 / 1ST FS&LA of E. Chicago
1ST FS&LA of E. Chicago, East Chicago, IN: received FDIC assistance August 31, 1983
1ST FS&LA of E. Chicago in East Chicago, Indiana, received open bank assistance from the FDIC on August 31, 1983. It held $209.5 million in assets and $211.1 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $12.1 million (5.8% of its assets). By assets it was the 16th largest of 99 banks closed or assisted in 1983.
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The FDIC's record
- Closed
- August 31, 1983
- Type
- Open bank assistance
- How it was resolved
- Open bank assistance: the FDIC assisted the bank without closing it
- Acquirer
- Citizens FS&LA, Hammond, IN
- Total assets
- $209,535,237
- Total deposits
- $211,063,639
- Estimated cost to the FDIC
- $12,130,500 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- FSLIC
- FDIC certificate
- 29255
Other bank failures in Indiana, 1981 to 1985
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Allen County Bank and Trust Company | Leo | November 22, 1985 | $10.9 million | $10.5 million | Indiana National Bank | |
| Union FS&LA (assistance) | Indianapolis | September 7, 1984 | $309.3 million | $285.9 million | $26.8 million | Union FS&LA |
| Peoples State Bank of Clay County | Poland | August 10, 1984 | $17.7 million | $17.1 million | $5.1 million | First State Bank |
| The Shelby Nat BK of Shelbyville | Shelbyville | April 19, 1984 | $67.8 million | $65.5 million | $378,072 | American Fletcher NB&T C |
| FT. Wayne FS&LA (assistance) | Fort Wayne | November 14, 1983 | $37 million | $31 million | $2.2 million | Standard FS&LA |
| American FS&LA (assistance) | Fort Wayne | November 14, 1983 | $55.4 million | $46.4 million | $3.4 million | Standard FS&LA |
| South Bend FS&LA (assistance) | South Bend | November 14, 1983 | $71.4 million | $71.5 million | $4.7 million | Standard FS&LA |
| First FS&LA of FT. Wayne (assistance) | Fort Wayne | November 14, 1983 | $298.1 million | $267.2 million | $17.3 million | Standard FS&LA |
Other failed banks Citizens FS&LA took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Equitable FSB (assistance) | Lancaster | OH | July 9, 1986 | $691.5 million | $645.7 million | $152.3 million | Citizens FS&LA |
| Citizens FS&LA (assistance) | Seattle | WA | December 1, 1985 | $461.4 million | $353.2 million | $18 million | Citizens FS&LA |
| Centennial S&LA | Guerneville | CA | August 20, 1985 | $368.2 million | $367.8 million | $148.9 million | Citizens FS&LA |
| Gary FS&LA (assistance) | Gary | IN | August 31, 1983 | $15.2 million | $15.7 million | $1.1 million | Citizens FS&LA |
All bank failures in 1983 · All bank failures in Indiana · Every failed bank Citizens FS&LA took over · The full failed bank list
Read from the FDIC's failures data (BankFind), last updated 2026-10-23. Assets and deposits are as of the last report before failure; the estimated cost is the FDIC's latest estimate of the loss to its insurance fund and changes as the receivership winds down. Free to reuse with credit to SpecStream under CC BY 4.0.