Data / Bank failures / 1988 / Cardinal FSB
Cardinal FSB, Cleveland, OH: received FDIC assistance December 1, 1988
Cardinal FSB in Cleveland, Ohio, received open bank assistance from the FDIC on December 1, 1988. It held $1.47 billion in assets and $1.46 billion in deposits at its last report. The FDIC estimates the cost to its insurance fund at $452.7 million (30.8% of its assets). By assets it was the 16th largest of 470 banks closed or assisted in 1988.
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The FDIC's record
- Closed
- December 1, 1988
- Type
- Open bank assistance
- How it was resolved
- Open bank assistance: the FDIC assisted the bank without closing it
- Acquirer
- Cardinal FSB, Cleveland, OH
- Total assets
- $1,471,492,000
- Total deposits
- $1,458,128,000
- Estimated cost to the FDIC
- $452,662,000 (estimate as of July 31, 2026)
- Charter
- Savings bank
- Insurance fund
- FSLIC
- FDIC certificate
- 28596
Other bank failures in Ohio, 1986 to 1990
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Mid-America FS & La | Columbus | December 15, 1990 | $1.21 billion | $894.3 million | $71,279 | NBD Bank |
| Superior Fsa | Cleveland | October 23, 1990 | $95.9 million | $58 million | $20.6 million | Home FSB, Northern Oh |
| Pioneer FS & La | Marietta | June 29, 1990 | $9.5 million | $9.1 million | $1 million | |
| First Savings & Loan | Massilon | April 20, 1990 | $168.2 million | $157.9 million | $14.4 million | |
| First Bank National Association | Cleveland | March 9, 1990 | $33.1 million | $32.1 million | $2.2 million | |
| Freedom Sa | Columbus | February 16, 1990 | $360.4 million | $311.9 million | $42.7 million | |
| Civic Savings Bank | Portsmouth | June 8, 1989 | $98.7 million | $101.3 million | $12.9 million | |
| Midland Buckeye Savings | Alliance | March 30, 1989 | $218.8 million | $212.3 million | $24.9 million | Citizens Banking Co. |
All bank failures in 1988 · All bank failures in Ohio · 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.