Data / Bank failures / 1988 / First FS&LA of Jacksonville
First FS&LA of Jacksonville, Jacksonville, FL: received FDIC assistance December 30, 1988
First FS&LA of Jacksonville in Jacksonville, Florida, received open bank assistance from the FDIC on December 30, 1988. It held $1.24 billion in assets and $1.01 billion in deposits at its last report. The FDIC estimates the cost to its insurance fund at $25.7 million (2.1% of its assets). By assets it was the 19th largest of 470 banks closed or assisted in 1988.
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The FDIC's record
- Closed
- December 30, 1988
- Type
- Open bank assistance
- How it was resolved
- Open bank assistance: the FDIC assisted the bank without closing it
- Acquirer
- First FS&LA, Jacksonville, FL
- Total assets
- $1,243,932,000
- Total deposits
- $1,013,543,000
- Estimated cost to the FDIC
- $25,725,330 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- FSLIC
- FDIC certificate
- 29251
Other bank failures in Florida, 1986 to 1990
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| First Commercial Bank of Florida | Boca Raton | December 14, 1990 | $171.6 million | $164.1 million | $27.3 million | Bank of North America |
| Florida Federal Savings Bank | ST. Petersburg | November 9, 1990 | $4.12 billion | $2.27 billion | $393.6 million | First Union Corp. |
| Gold Coast Savings Bank | Plantation | October 19, 1990 | $151.7 million | $141.8 million | $46.9 million | |
| International FS & La | N. Miami Beach | October 12, 1990 | $84.3 million | $81.5 million | $13 million | |
| Ambassador FS & La | Tamarac | August 24, 1990 | $184.1 million | $162 million | $52.1 million | Bank of North America |
| Citizens & Builders FS | Pensacola | July 27, 1990 | $119.2 million | $97.9 million | $31.6 million | Central Bank of the South |
| Professional Savings Bank | Coral Gables | July 27, 1990 | $695.6 million | $618.4 million | $251.5 million | |
| Bank M | Miami | June 15, 1990 | $10.7 million | $10.7 million | $3.9 million | Bank of North America |
Other failed banks First FS&LA took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| First of Longview (assistance) | Longview | WA | August 2, 1988 | $78.1 million | $76.3 million | $13.6 million | First FS&LA |
| Arctic FS&LA (assistance) | Fairbanks | AK | May 9, 1981 | $40.5 million | $34.8 million | $3.8 million | First FS&LA |
All bank failures in 1988 · All bank failures in Florida · Every failed bank First FS&LA 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.