Data / Bank failures / 1983 / American State Bank
American State Bank, Bradley, IL: failed February 12, 1983
American State Bank in Bradley, Illinois, failed on February 12, 1983. Midwest T&SB of Bradley of Bradley, IL, took over its deposits. It held $14.1 million in assets and $13.8 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $1.2 million (8.2% of its assets). By assets it was the 86th largest of 99 banks closed or assisted in 1983.
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The FDIC's record
- Closed
- February 12, 1983
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Midwest T&SB of Bradley, Bradley, IL
- Total assets
- $14,124,000
- Total deposits
- $13,775,000
- Estimated cost to the FDIC
- $1,151,712 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- FDIC
- FDIC certificate
- 22880
Other bank failures in Illinois, 1981 to 1985
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Glen Ellyn S&LA (assistance) | Glen Ellyn | September 20, 1985 | $122.1 million | $101.1 million | $18.5 million | Citicorp Savings of Illinoi |
| Citizens FS&LA (assistance) | Matteson | September 3, 1985 | $133.8 million | $133.5 million | $3 million | Republic Savings Bank, FSB |
| State Bank of Farmersville | Farmersville | August 9, 1985 | $12 million | $12.1 million | $2.2 million | Litchfield BANK&TRUST Co |
| First FS&LA of Freeport (assistance) | Freeport | May 28, 1985 | $63.3 million | $45.7 million | $13.6 million | Home FS&LA of Rockford |
| Taylor State Bank | Emington | March 15, 1985 | $5 million | $4.8 million | $1.5 million | First NB of Dwight |
| First Security Bank | Sandwich | December 22, 1984 | $13.4 million | $12.1 million | $1 million | First NB of Sandwich |
| American Heritage Savings FA (assistance) | Bloomington | August 28, 1984 | $277 million | $256.4 million | $42.9 million | Household Bank FSB |
| The Coffeen National Bank | Coffeen | July 12, 1984 | $9.4 million | $9.4 million | $1.7 million | Coffeen State Bank |
All bank failures in 1983 · All bank failures in Illinois · 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.