Data / Bank failures / 1988 / First FS&LA of Paducah
First FS&LA of Paducah, Paducah, KY: failed March 11, 1988
First FS&LA of Paducah in Paducah, Kentucky, failed on March 11, 1988. It held $130.9 million in assets and $149.1 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $31.8 million (24.3% of its assets). By assets it was the 155th largest of 470 banks closed or assisted in 1988.
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The FDIC's record
- Closed
- March 11, 1988
- Type
- Failure
- How it was resolved
- Insured deposit transfer: the insured deposits moved to another bank
- Total assets
- $130,938,000
- Total deposits
- $149,064,000
- Estimated cost to the FDIC
- $31,795,620 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- FSLIC
- FDIC certificate
- 29770
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 |
| First FS&LA of Mayfield (assistance) | Mayfield | October 12, 1988 | $51.5 million | $72.8 million | $22.1 million | Republic Savings Bank FSB |
| 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 |
| 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 2026-10-23. 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.