Data / Bank failures / 1983 / First FS&LA of Sioux Falls
First FS&LA of Sioux Falls, Sioux Falls, SD: received FDIC assistance June 10, 1983
First FS&LA of Sioux Falls in Sioux Falls, South Dakota, received open bank assistance from the FDIC on June 10, 1983. It held $78 million in assets and $75.3 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $6.9 million (8.8% of its assets). By assets it was the 40th largest of 99 banks closed or assisted in 1983.
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The FDIC's record
- Closed
- June 10, 1983
- Type
- Open bank assistance
- How it was resolved
- Open bank assistance: the FDIC assisted the bank without closing it
- Acquirer
- Home FS&LA Sioux Falls, Sioux Falls, SD
- Total assets
- $77,959,471
- Total deposits
- $75,252,890
- Estimated cost to the FDIC
- $6,884,208 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- FSLIC
- FDIC certificate
- 30549
Other bank failures in South Dakota, 1981 to 1985
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Mitchell Home S&LA (assistance) | Mitchell | August 1, 1984 | $16.6 million | $18 million | Metropolitan Fed BK FSB | |
| Farmers State Bank | Lyons | June 15, 1984 | $3.2 million | $3 million | $854,695 | Dakota State Bank |
| Community Bank | Hartford | June 17, 1983 | $32 million | $28.3 million | $5.9 million | Western Bank |
| First Dakota Home S&LA (assistance) | Pierre | June 10, 1983 | $27.8 million | $26.1 million | $1.8 million | Home FS&LA Sioux Falls |
| Home Trust S&LA (assistance) | Vermillion | December 20, 1982 | $13.2 million | $12.1 million | $300,000 | Home Trust S&LA |
| First Dakota Home S&LA (assistance) | Pierre | September 20, 1982 | $27.8 million | $25.6 million | $1.1 million | First Dakota Home S&LA |
| First FS&LA of Sioux Falls (assistance) | Sioux Falls | September 20, 1982 | $78.2 million | $74.3 million | $2.9 million | First Dakota Home S&LA |
| Perpetual S&LA (assistance) | Rapid City | September 15, 1981 | $49.7 million | $39.2 million | $9.4 million | First FS&LA of Rapid City |
Other failed banks Home FS&LA Sioux Falls took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| First Dakota Home S&LA (assistance) | Pierre | SD | June 10, 1983 | $27.8 million | $26.1 million | $1.8 million | Home FS&LA Sioux Falls |
All bank failures in 1983 · All bank failures in South Dakota · Every failed bank Home FS&LA Sioux Falls 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.