Data / Bank failures / 1991 / First Federal Savings of Toledo
First Federal Savings of Toledo, Toledo, OH: failed February 1, 1991
First Federal Savings of Toledo in Toledo, Ohio, failed on February 1, 1991. First FSB of Cleveland, OH, took over its deposits. It held $1.02 billion in assets and $1.02 billion in deposits at its last report. The FDIC estimates the cost to its insurance fund at $38.4 million (3.8% of its assets). By assets it was the 33rd largest of 271 banks closed or assisted in 1991.
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The FDIC's record
- Closed
- February 1, 1991
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- First FSB, Cleveland, OH
- Total assets
- $1,022,500,000
- Total deposits
- $1,016,062,000
- Estimated cost to the FDIC
- $38,420,761 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- RTC
- FDIC certificate
- 29422
Other bank failures in Ohio, 1989 to 1993
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Crestline FS & La | Crestline | November 20, 1992 | $27.5 million | $26.8 million | $6.9 million | Premier B&T |
| Transohio, FSB | Cleveland | July 10, 1992 | $3.37 billion | $2.40 billion | $52.1 million | |
| First Ohio SB, FSB | ST. Bernard | March 13, 1992 | $40.8 million | $31.8 million | $228 | Patriot FSB |
| United Home Federal | Toledo | September 6, 1991 | $443.4 million | $446.9 million | $9.7 million | Standard FB |
| First FS & La | MT. Vernon | August 23, 1991 | $73.1 million | $74.4 million | $4,163 | First FS&LA of Wooster |
| Merchants & Mechanics FSB | Springfield | August 23, 1991 | $209.9 million | $206.1 million | $22.6 million | Banc One FSB |
| Liberty SB, FSB | Marietta | May 3, 1991 | $17.8 million | $17.8 million | $3.3 million | People's B&TC |
| Columbia Fsa of Hamilton | Hamilton | April 5, 1991 | $61.3 million | $51.7 million | $1.2 million | Home FB, A FSB |
Other failed banks First FSB took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| First Federal Savings & Loan | San Antonio | TX | January 4, 1991 | $638.6 million | $472.4 million | $37.7 million | First FSB |
| First Federal Sav. Assoc./bluefield | Bluefield | WV | February 23, 1990 | $39.3 million | $33.2 million | $2.6 million | First FSB |
| Broadview Savings Bank | Cleveland | OH | March 30, 1989 | $1.78 billion | $1.14 billion | $94.7 million | First FSB |
| Pan American, FS&LA (assistance) | Rio Piedras | PR | November 20, 1981 | $43.9 million | $31.6 million | First FSB | |
| First FS&LA of Puerto Rico (assistance) | Santurce | PR | November 20, 1981 | First FSB |
All bank failures in 1991 · All bank failures in Ohio · Every failed bank First FSB took over · 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.