Data / Bank failures / 1989 / First Federal S & L /central Indiana
First Federal S & L /central Indiana, Anderson, IN: failed November 16, 1989
First Federal S & L /central Indiana in Anderson, Indiana, failed on November 16, 1989. Shelby FSB of Indianapolis, IN, took over its deposits. It held $192.4 million in assets and $176.7 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $15.1 million (7.9% of its assets). By assets it was the 135th largest of 534 banks closed or assisted in 1989.
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The FDIC's record
- Closed
- November 16, 1989
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Shelby FSB, Indianapolis, IN
- Total assets
- $192,423,000
- Total deposits
- $176,725,000
- Estimated cost to the FDIC
- $15,142,792 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- RTC
- FDIC certificate
- 27616
Other bank failures in Indiana, 1987 to 1991
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Worthington State Bank | Worthington | November 14, 1991 | $36.6 million | $34.2 million | $1.4 million | First Farmers State Bank |
| First Commerce SB, FSB | Lowell | June 14, 1991 | $10.9 million | $10.5 million | $1.4 million | Centier Bank |
| Hometown Savings Bank FSB | Delphi | June 8, 1990 | $64.7 million | $58.7 million | $8.1 million | |
| Pioneer Savings FA | Plymouth | July 13, 1989 | $81 million | $92.3 million | $1.2 million | Ameritrust NB |
| Capital FS&LA (assistance) | Gary | October 12, 1988 | $51.4 million | $55.7 million | $6.5 million | First FSB of Indiana |
| First FSB of Indiana (assistance) | Merrillville | October 12, 1988 | $271.5 million | $287 million | $22.5 million | First FSB of Indiana |
| Liberty Bank & Trust Company | Warsaw | October 3, 1988 | $48.7 million | $45.8 million | $7.8 million | Trustcorp Bank Goshen |
| Citizens FS&LA of New Castle (assistance) | New Castle | September 30, 1988 | $51.9 million | $57 million | $5.3 million | Ameriana Savings Bank FSB |
All bank failures in 1989 · All bank failures in Indiana · 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.