Data / Bank failures / 1985 / Family FS&LA
Family FS&LA, Springfield, VA: received FDIC assistance September 27, 1985
Family FS&LA in Springfield, Virginia, received open bank assistance from the FDIC on September 27, 1985. It held $57.1 million in assets and $71.2 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $776,000 (1.4% of its assets). By assets it was the 61st largest of 180 banks closed or assisted in 1985.
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The FDIC's record
- Closed
- September 27, 1985
- Type
- Open bank assistance
- How it was resolved
- Open bank assistance: the FDIC assisted the bank without closing it
- Acquirer
- Columbia First FS&LA, Washington, DC
- Total assets
- $57,071,000
- Total deposits
- $71,193,000
- Estimated cost to the FDIC
- $776,000 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- FSLIC
- FDIC certificate
- 31652
Other bank failures in Virginia, 1983 to 1987
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| American FS&LA (assistance) | Lynchburg | December 31, 1987 | $166.5 million | $196.7 million | $44.5 million | First Federal of Roanoke |
| Mountain Security SB (assistance) | Wytheville | June 6, 1986 | $125.3 million | $114.3 million | $18.9 million | Carteret S&LA FA |
| First of Montgomery County (assistance) | Blacksburg | June 6, 1986 | $14.5 million | $15.5 million | $3.3 million | Carteret S&LA FA |
| Northern Virginia S&LA (assistance) | Arlington | May 2, 1985 | $237.2 million | $240.6 million | $18.9 million | Northern Virginia S&LA A FA |
| Union Mutual S&LA | Richmond | January 27, 1984 | $8.6 million | $7.9 million | ||
| MT. Vernon S&LA (assistance) | Rosslyn | August 5, 1983 | $117.8 million | $118 million | $18.6 million | First Florida FSB |
| Middle Pnsla NRTH. Neck FS&LA (assistance) | Gloucester | August 5, 1983 | $44.7 million | $41.9 million | $4.3 million | First Florida FSB |
| Peninsula FS&LA (assistance) | Newport News | March 5, 1983 | $95.9 million | $76.1 million | $1.9 million | Bay Savings Bank FSB |
All bank failures in 1985 · All bank failures in Virginia · 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.