Data / Bank failures / 1988 / First of Longview
First of Longview, Longview, WA: received FDIC assistance August 2, 1988
First of Longview in Longview, Washington, received open bank assistance from the FDIC on August 2, 1988. It held $78.1 million in assets and $76.3 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $13.6 million (17.4% of its assets). By assets it was the 217th largest of 470 banks closed or assisted in 1988.
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The FDIC's record
- Closed
- August 2, 1988
- Type
- Open bank assistance
- How it was resolved
- Open bank assistance: the FDIC assisted the bank without closing it
- Acquirer
- First FS&LA, Longview, WA
- Total assets
- $78,095,000
- Total deposits
- $76,320,000
- Estimated cost to the FDIC
- $13,626,000 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- FSLIC
- FDIC certificate
- 28310
Other bank failures in Washington, 1986 to 1990
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Frontier FS & La | Walla Walla | February 23, 1990 | $146.9 million | $120 million | $9,856 | Washington Mutual |
| Gibraltar Savings Bank, FSB | Seattle | March 31, 1989 | $1.68 billion | $1.37 billion | $59,301 | |
| Community First Fed Savings (assistance) | Vancouver | December 15, 1988 | $386 million | $308.1 million | $73.3 million | American Home Savings A FSB |
| Eastern Washington S&LA (assistance) | Wenatchee | December 14, 1988 | $51.5 million | $32.3 million | $1.1 million | First W FS&LA of Wenatchee |
| Lynnwood S&LA (assistance) | Lynnwood | June 24, 1988 | $24.1 million | $24.9 million | $3.7 million | World S&LA America Fed S&L |
| The Liberty Bank of Seattle | Seattle | June 17, 1988 | $19.1 million | $20.6 million | $8.4 million | Emerald City Bank |
| Tri-Cities Savings and Loan (assistance) | Kennewick | April 11, 1988 | $53.1 million | $43.8 million | $14.2 million | Sterling Savings of Spokane |
| Home S&LA (assistance) | Seattle | March 13, 1987 | $150.6 million | $117.6 million | $25.9 million | Interwest Savings Bank |
Other failed banks First FS&LA took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| First FS&LA of Jacksonville (assistance) | Jacksonville | FL | December 30, 1988 | $1.24 billion | $1.01 billion | $25.7 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 Washington · 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.