Data / Bank failures / 1988 / Capital FS&LA
Capital FS&LA, Gary, IN: received FDIC assistance October 12, 1988
Capital FS&LA in Gary, Indiana, received open bank assistance from the FDIC on October 12, 1988. It held $51.4 million in assets and $55.7 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $6.5 million (12.7% of its assets). By assets it was the 275th largest of 470 banks closed or assisted in 1988.
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The FDIC's record
- Closed
- October 12, 1988
- Type
- Open bank assistance
- How it was resolved
- Open bank assistance: the FDIC assisted the bank without closing it
- Acquirer
- First FSB of Indiana, Merrillville, IN
- Total assets
- $51,414,000
- Total deposits
- $55,716,000
- Estimated cost to the FDIC
- $6,530,631 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- FSLIC
- FDIC certificate
- 29978
Other bank failures in Indiana, 1986 to 1990
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Hometown Savings Bank FSB | Delphi | June 8, 1990 | $64.7 million | $58.7 million | $8.1 million | |
| First Federal S & L /central Indiana | Anderson | November 16, 1989 | $192.4 million | $176.7 million | $15.1 million | Shelby FSB |
| Pioneer Savings FA | Plymouth | July 13, 1989 | $81 million | $92.3 million | $1.2 million | Ameritrust NB |
| First FSB of Indiana (assistance) | Merrillville | October 12, 1988 | $271.5 million | $287 million | $22.5 million | First FSB of Indiana |
| Liberty Bank & Trust Company | Warsaw | October 3, 1988 | $48.7 million | $45.8 million | $7.8 million | Trustcorp Bank Goshen |
| Citizens FS&LA of New Castle (assistance) | New Castle | September 30, 1988 | $51.9 million | $57 million | $5.3 million | Ameriana Savings Bank FSB |
| United Sa of Central Indiana (assistance) | Tipton | September 1, 1988 | $57.3 million | $65.1 million | $6.9 million | First Federal Bank A FSB |
| Frankton FS&LA (assistance) | Frankton | September 1, 1988 | $30.6 million | $33.1 million | $3 million | Union FSB of Frankton |
Other failed banks First FSB of Indiana took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| First FSB of Indiana (assistance) | Merrillville | IN | October 12, 1988 | $271.5 million | $287 million | $22.5 million | First FSB of Indiana |
All bank failures in 1988 · All bank failures in Indiana · Every failed bank First FSB of Indiana 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.