Data / Bank failures / 1986 / Capitol S&LA
Capitol S&LA, Mount Pleasant, IA: failed February 21, 1986
Capitol S&LA in Mount Pleasant, Iowa, failed on February 21, 1986. Midwest FS&LA of Minneapoli of Minneapolis, MN, took over its deposits. It held $192 million in assets and $180.5 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $99 million (51.6% of its assets). By assets it was the 29th largest of 204 banks closed or assisted in 1986.
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The FDIC's record
- Closed
- February 21, 1986
- Type
- Failure
- How it was resolved
- Insured deposit transfer: the insured deposits moved to another bank
- Acquirer
- Midwest FS&LA of Minneapoli, Minneapolis, MN
- Total assets
- $192,018,000
- Total deposits
- $180,527,000
- Estimated cost to the FDIC
- $98,989,920 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- FSLIC
- FDIC certificate
- 29920
Other bank failures in Iowa, 1984 to 1988
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Home FS&LA (assistance) | Spencer | December 30, 1988 | $46.5 million | $51.6 million | $9 million | Northwest FSB |
| Northwest FS&LA (assistance) | Spencer | December 30, 1988 | $129.1 million | $144.6 million | $66.5 million | Northwest FSB |
| First Financial SB (assistance) | Des Moines | December 28, 1988 | $262.7 million | $211.4 million | $85.7 million | Metropolitan Federal Bank O |
| Midamerica SB (assistance) | Waterloo | December 12, 1988 | $244.3 million | $232.3 million | $14 million | Midamerica Savings Bank |
| Pisgah Savings Bank | Pisgah | September 1, 1988 | $9.7 million | $9.3 million | $3 million | Iowa Savings Bank |
| Mingo Trust & Savings Bank | Mingo | September 1, 1988 | $12.1 million | $11.4 million | $775,307 | Exchange State Bank |
| Pioneer FS&LA in Mason City (assistance) | Mason City | August 26, 1988 | $314 million | $310 million | $141.2 million | Pioneer FS&LA |
| Western FS&LA (assistance) | Council Bluffs | August 11, 1988 | $23.9 million | $39.1 million | $11.7 million | First FS&LA of Lincoln-Iowa |
Other failed banks Midwest FS&LA of Minneapoli took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| United FS&LA | Durant | OK | June 29, 1987 | $89.8 million | $78.2 million | $46.4 million | Midwest FS&LA of Minneapoli |
| Investors Federal Bank | El Reno | OK | June 18, 1987 | $97.5 million | $96.3 million | $60 million | Midwest FS&LA of Minneapoli |
| Ramona S&LA | Fillmore | CA | September 12, 1986 | $108.1 million | $96 million | $59.5 million | Midwest FS&LA of Minneapoli |
All bank failures in 1986 · All bank failures in Iowa · Every failed bank Midwest FS&LA of Minneapoli 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.