Data / Bank failures / 1981 / Economy S&LA
Economy S&LA, Chicago, IL: failed May 18, 1981
Economy S&LA in Chicago, Illinois, failed on May 18, 1981. It held $73.9 million in assets and $58.4 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $22 million (29.7% of its assets). By assets it was the 23rd largest of 40 banks closed or assisted in 1981.
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The FDIC's record
- Closed
- May 18, 1981
- Type
- Failure
- How it was resolved
- Payout: the FDIC paid insured depositors directly
- Total assets
- $73,869,766
- Total deposits
- $58,374,955
- Estimated cost to the FDIC
- $21,974,000 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- FSLIC
- FDIC certificate
- 30480
Other bank failures in Illinois, 1979 to 1983
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Atkinson Trust & Savings Bank | Atkinson | November 25, 1983 | $21.1 million | $18.5 million | $9.5 million | |
| The First Nat BK of Danvers | Danvers | August 5, 1983 | $12.5 million | $11.7 million | $3.2 million | First State Bank of Danv |
| Antioch S&LA | Antioch | July 8, 1983 | $57.9 million | $52.2 million | $3.2 million | |
| Union Nat BK of Chicago | Chicago | July 8, 1983 | $26.3 million | $24.4 million | $4.4 million | |
| First Nat BK of Oak Lawn | Oak Lawn | April 29, 1983 | $130.3 million | $123.3 million | $21.4 million | Oak Lawn National Bank |
| The Ina State Bank | Ina | April 8, 1983 | $17.7 million | $16.6 million | $2.8 million | First B&T Co MT Vernon |
| American State Bank | Bradley | February 12, 1983 | $14.1 million | $13.8 million | $1.2 million | Midwest T&SB of Bradley |
| Manning S&LA | Chicago | February 3, 1983 | $78.7 million | $60.7 million | $19.8 million |
All bank failures in 1981 · 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.