Data / Bank failures / 1982 / American FS&LA
American FS&LA, Southfield, MI: received FDIC assistance July 30, 1982
American FS&LA in Southfield, Michigan, received open bank assistance from the FDIC on July 30, 1982. It held $841.7 million in assets and $475.8 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $3.1 million (0.4% of its assets). By assets it was the 13th largest of 119 banks closed or assisted in 1982.
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The FDIC's record
- Closed
- July 30, 1982
- Type
- Open bank assistance
- How it was resolved
- Open bank assistance: the FDIC assisted the bank without closing it
- Acquirer
- Empire of America, Fsa, Southfield, MI
- Total assets
- $841,712,782
- Total deposits
- $475,755,738
- Estimated cost to the FDIC
- $3,134,950 (estimate as of July 31, 2026)
- Charter
- Savings bank
- Insurance fund
- FSLIC
- FDIC certificate
- 30321
Other bank failures in Michigan, 1980 to 1984
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| National Bank and Trust Company of Travers | Traverse City | March 9, 1984 | $104 million | $97.8 million | $12.2 million | NBD Northwest Bank NA |
| Guaranty FS&LA (assistance) | Taylor | July 22, 1983 | $143.4 million | $133.5 million | $1 million | Guaranty FS&LA |
| Metropolitan Sa (assistance) | Farmington | February 12, 1983 | $395.9 million | $254 million | $1.5 million | Empire of America, Fsa |
| Community BK of Washtenaw | Ypsilantai | May 15, 1982 | $19.9 million | $18.2 million | $242,786 | Michigan NB Ann Arbor |
| First of Niles FS&LA (assistance) | Niles | October 14, 1980 | $131.8 million | $120.3 million | $13.3 million | Standard FS&LA |
Other failed banks Empire of America, Fsa took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Metropolitan Sa (assistance) | Farmington | MI | February 12, 1983 | $395.9 million | $254 million | $1.5 million | Empire of America, Fsa |
| First of Mid Florida (assistance) | Deland | FL | July 30, 1982 | $549.3 million | $486.8 million | $1.8 million | Empire of America, Fsa |
All bank failures in 1982 · All bank failures in Michigan · Every failed bank Empire of America, Fsa 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.