Data / Bank failures / 1991 / First FS & La of Creston
First FS & La of Creston, Creston, IA: failed May 10, 1991
First FS & La of Creston in Creston, Iowa, failed on May 10, 1991. First FSB of Creston of Creston, IA, took over its deposits. It held $67.3 million in assets and $67.9 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $1.8 million (2.6% of its assets). By assets it was the 148th largest of 271 banks closed or assisted in 1991.
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The FDIC's record
- Closed
- May 10, 1991
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- First FSB of Creston, Creston, IA
- Total assets
- $67,326,000
- Total deposits
- $67,915,000
- Estimated cost to the FDIC
- $1,751,054 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- RTC
- FDIC certificate
- 28885
Other bank failures in Iowa, 1989 to 1993
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Valley National Bank of Fremont | Hamburg | April 29, 1993 | $7 million | $6.8 million | $164,766 | Decatur County State Ban |
| Peoples Fsa | Ottumwa | November 22, 1991 | $34.3 million | $33.7 million | $735,332 | South Ottumwa SB |
| Home FS & La of Harlan | Harlan | September 27, 1991 | $91.4 million | $89 million | $35,348 | Conservative SB FSB |
| Home FS & La, FA | Algona | April 26, 1991 | $134.3 million | $116.9 million | $4,123 | |
| United Fsa of Iowa | Des Moines | March 22, 1991 | $895.8 million | $715.8 million | $50.2 million | |
| Statesman Bank for Savings, FSB | Des Moines | July 27, 1990 | $540.4 million | $445.1 million | $20.4 million | |
| Sun Federal Savings Assoc. | Fort Dodge | March 16, 1990 | $24.3 million | $19 million | $1.8 million | Ida County State Bank |
| American Federal Savings Assoc. | Des Moines | February 9, 1990 | $910.7 million | $817.9 million | $23.5 million |
All bank failures in 1991 · All bank failures in Iowa · 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.