Data / Bank failures / 1991 / First FS & La
First FS & La, MT. Vernon, OH: failed August 23, 1991
First FS & La in MT. Vernon, Ohio, failed on August 23, 1991. First FS&LA of Wooster of Wooster, OH, took over its deposits. It held $73.1 million in assets and $74.4 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $4,163 (0% of its assets). By assets it was the 143rd largest of 271 banks closed or assisted in 1991.
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The FDIC's record
- Closed
- August 23, 1991
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- First FS&LA of Wooster, Wooster, OH
- Total assets
- $73,142,000
- Total deposits
- $74,359,000
- Estimated cost to the FDIC
- $4,163 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- RTC
- FDIC certificate
- 27842
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 |
| 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 |
| Arcanium Fsa | Arcanum | March 15, 1991 | $45.4 million | $46.8 million | $2.9 million | Second NB |
All bank failures in 1991 · All bank failures in Ohio · 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.