Data / Bank failures / 1986 / Family FS&LA
Family FS&LA, Saginaw, MI: received FDIC assistance October 31, 1986
Family FS&LA in Saginaw, Michigan, received open bank assistance from the FDIC on October 31, 1986. It held $338.9 million in assets and $354.9 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $17.2 million (5.1% of its assets). By assets it was the 20th largest of 204 banks closed or assisted in 1986.
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The FDIC's record
- Closed
- October 31, 1986
- Type
- Open bank assistance
- How it was resolved
- Open bank assistance: the FDIC assisted the bank without closing it
- Acquirer
- Heritage FSB, Taylor, MI
- Total assets
- $338,904,000
- Total deposits
- $354,906,000
- Estimated cost to the FDIC
- $17,172,000 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- FSLIC
- FDIC certificate
- 27649
Other bank failures in Michigan, 1984 to 1988
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Bloomfield S&LA (assistance) | Birmingham | December 16, 1988 | $688.7 million | $607.4 million | $119.6 million | First Nationwide Bank A FSB |
| First Dearborn (assistance) | Dearborn | December 16, 1988 | $167.3 million | $230.5 million | $78.7 million | First Nationwide Bank A FSB |
| Muskegon FS&LA (assistance) | Muskegon | June 2, 1988 | $204.6 million | $196 million | $2 million | Muskegon FS&LA |
| The First State Bank | White Cloud | February 12, 1988 | $36.4 million | $37.4 million | $10.5 million | Peoples STB of ST Joseph |
| Usm (u.s. Mutual) S&LA | Ann Arbor | November 26, 1985 | $306.1 million | $287 million | $31.1 million | Great Lakes Bancorp |
| National Bank and Trust Company of Travers | Traverse City | March 9, 1984 | $104 million | $97.8 million | $12.2 million | NBD Northwest Bank NA |
All bank failures in 1986 · All bank failures in Michigan · 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.