Data / Bank failures / 1982 / First FS&LA of Chicago
First FS&LA of Chicago, Galena, IL: received FDIC assistance April 3, 1982
First FS&LA of Chicago in Galena, Illinois, received open bank assistance from the FDIC on April 3, 1982. It held $3.53 billion in assets and $2.84 billion in deposits at its last report. The FDIC estimates the cost to its insurance fund at $634.6 million (18% of its assets). By assets it was the largest of 119 banks closed or assisted in 1982.
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The FDIC's record
- Closed
- April 3, 1982
- Type
- Open bank assistance
- How it was resolved
- Open bank assistance: the FDIC assisted the bank without closing it
- Acquirer
- Citicorp Savings of Illinoi, Chicago, IL
- Total assets
- $3,534,833,585
- Total deposits
- $2,839,538,315
- Estimated cost to the FDIC
- $634,559,000 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- FSLIC
- FDIC certificate
- 28820
Other bank failures in Illinois, 1980 to 1984
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| First Security Bank | Sandwich | December 22, 1984 | $13.4 million | $12.1 million | $1 million | First NB of Sandwich |
| American Heritage Savings FA (assistance) | Bloomington | August 28, 1984 | $277 million | $256.4 million | $42.9 million | Household Bank FSB |
| The Coffeen National Bank | Coffeen | July 12, 1984 | $9.4 million | $9.4 million | $1.7 million | Coffeen State Bank |
| Washington Nat BK of Chicago | Chicago | May 18, 1984 | $14.1 million | $13.8 million | $2 million | Banco Popular de Puerto |
| Continental Illinois Nat BK & TR (assistance) | Chicago | May 17, 1984 | $39.96 billion | $28.59 billion | $1.11 billion | Continental Illinois Nat BK |
| United of America Bank | Chicago | April 26, 1984 | $38.1 million | $36.9 million | $876,199 | Mid-City NB of Chicago |
| Heritage Bank of Bureau County | Depue | February 8, 1984 | $8.7 million | $7.8 million | $1.4 million | Colonial T&SB of Bureau |
| Atkinson Trust & Savings Bank | Atkinson | November 25, 1983 | $21.1 million | $18.5 million | $9.5 million |
Other failed banks Citicorp Savings of Illinoi took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Glen Ellyn S&LA (assistance) | Glen Ellyn | IL | September 20, 1985 | $122.1 million | $101.1 million | $18.5 million | Citicorp Savings of Illinoi |
All bank failures in 1982 · All bank failures in Illinois · Every failed bank Citicorp Savings of Illinoi 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.