Data / Bank failures / 1988 / First FS&LA of Taylorville
First FS&LA of Taylorville, Taylorville, IL: received FDIC assistance August 10, 1988
First FS&LA of Taylorville in Taylorville, Illinois, received open bank assistance from the FDIC on August 10, 1988. It held $34.6 million in assets and $37.6 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $2.8 million (8% of its assets). By assets it was the 320th largest of 470 banks closed or assisted in 1988.
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The FDIC's record
- Closed
- August 10, 1988
- Type
- Open bank assistance
- How it was resolved
- Open bank assistance: the FDIC assisted the bank without closing it
- Acquirer
- United Savings of America, Chicago, IL
- Total assets
- $34,604,000
- Total deposits
- $37,588,000
- Estimated cost to the FDIC
- $2,765,000 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- FSLIC
- FDIC certificate
- 29848
Other bank failures in Illinois, 1986 to 1990
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Enterprise Savings Bank, FA | Chicago | December 27, 1990 | $432.6 million | $322 million | $12.6 million | United FB |
| Home Federal Bank for Savings | Waukegan | December 14, 1990 | $348.1 million | $196.1 million | $19.6 million | First of Amer. Bk-N.e. Il |
| Olympic Federal Savings | Berwyn | December 14, 1990 | $1.05 billion | $683.7 million | $73.9 million | |
| First Fsa of Tuscola | Tuscola | August 17, 1990 | $23.2 million | $23.4 million | $2 million | First NB of Arcola |
| American Sa of MT. Carmel | MT. Carmel | August 10, 1990 | $11.9 million | $11.8 million | $1.8 million | Union FSB |
| Hometown Fsa | Winfield | August 3, 1990 | $46.5 million | $39.4 million | $6.3 million | Irving Bank |
| Summit First S & La | Summit | July 13, 1990 | $57.8 million | $55.8 million | $-21,036 | Marquette NB |
| Germania Bank, FSB | Alton | June 22, 1990 | $785.5 million | $663.3 million | $60.7 million | Mercantile Bank of ST. Loui |
Other failed banks United Savings of America took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Fidelity FS&LA (assistance) | Berwyn | IL | September 1, 1988 | $37.1 million | $39.5 million | $3.7 million | United Savings of America |
All bank failures in 1988 · All bank failures in Illinois · Every failed bank United Savings of America 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.