Data / Bank failures / 1989 / Concordia Federal Bank for Savings
Concordia Federal Bank for Savings, Lansing, IL: failed February 17, 1989
Concordia Federal Bank for Savings in Lansing, Illinois, failed on February 17, 1989. Advance FB for Savings of Lansing, IL, took over its deposits. It held $468.8 million in assets and $423.9 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $63.2 million (13.5% of its assets). By assets it was the 69th largest of 534 banks closed or assisted in 1989.
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The FDIC's record
- Closed
- February 17, 1989
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Advance FB for Savings, Lansing, IL
- Total assets
- $468,800,000
- Total deposits
- $423,864,000
- Estimated cost to the FDIC
- $63,182,314 (estimate as of July 31, 2026)
- Charter
- Savings bank
- Insurance fund
- RTC
- FDIC certificate
- 29383
Other bank failures in Illinois, 1987 to 1991
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Western FS & La | Clenview | November 22, 1991 | $33.2 million | $26.4 million | $1.8 million | Devon Bank |
| United Savings of America | Chicago | September 27, 1991 | $1.16 billion | $1.07 billion | $63.5 million | First NB of Chicago |
| First Bank and Trust (assistance) | Harrisburg | September 16, 1991 | $26.6 million | $26.2 million | $626,895 | First Bank and Trust |
| Cooperative FSB | Westmont | July 19, 1991 | $74.9 million | $47 million | $1,159 | Heritage Glenwood Bank |
| The Cosmopolitan National Bank of Chicago | Chicago | May 17, 1991 | $110.1 million | $108.5 million | $14.9 million | Cosmopolitan Bank and Trust |
| Capitol Federal Bank for Savings | Chicago | May 10, 1991 | $39.3 million | $33.4 million | Columbia NB of Chicago | |
| Century Federal Savings | Chicago | May 3, 1991 | $25.9 million | $24.4 million | $1.3 million | Metropolitan B&TC |
| First Savings of Zion | Zion | April 5, 1991 | $63.2 million | $60.6 million | $6.2 million | Advantage Bank |
All bank failures in 1989 · 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.