Data / Bank failures / 1988 / First FS&LA of Mayfield
First FS&LA of Mayfield, Mayfield, KY: received FDIC assistance October 12, 1988
First FS&LA of Mayfield in Mayfield, Kentucky, received open bank assistance from the FDIC on October 12, 1988. It held $51.5 million in assets and $72.8 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $22.1 million (43% of its assets). By assets it was the 274th largest of 470 banks closed or assisted in 1988.
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The FDIC's record
- Closed
- October 12, 1988
- Type
- Open bank assistance
- How it was resolved
- Open bank assistance: the FDIC assisted the bank without closing it
- Acquirer
- Republic Savings Bank FSB, Louisville, KY
- Total assets
- $51,455,000
- Total deposits
- $72,754,000
- Estimated cost to the FDIC
- $22,101,000 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- FSLIC
- FDIC certificate
- 27999
Other bank failures in Kentucky, 1986 to 1990
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Corinth Deposit National Bank | Corinth | April 19, 1990 | $8.7 million | $8.7 million | $401,514 | The National Bank of Corint |
| Henderson Home S & La | Henderson | February 2, 1990 | $50.4 million | $49.8 million | $2.2 million | Farmers B&TC |
| Larue FS&LA | Hodgenville | June 3, 1988 | $12 million | $16.2 million | $4 million | |
| Morehead National Bank (assistance) | Morehead | March 15, 1988 | $7.6 million | $7.9 million | $974,179 | Morehead National Bank |
| First FS&LA of Paducah | Paducah | March 11, 1988 | $130.9 million | $149.1 million | $31.8 million | |
| The Peoples Bank | Olive Hill | December 3, 1987 | $40.9 million | $39.5 million | $7.6 million | Commercial Bank of Grays |
| Lincoln FS&LA (assistance) | Louisville | December 31, 1986 | $460.8 million | $478.3 million | $93 million | First Nationwide SVG FS&LA |
| Continental National Bank of Kentucky | Louisville | June 26, 1986 | $10.1 million | $10.2 million | $405,098 | River City Bank Inc |
All bank failures in 1988 · All bank failures in Kentucky · The full failed bank list
Read from the FDIC's failures data (BankFind), last updated 2026-10-24. 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.