Data / Bank failures / 1982 / Garfield FS&LA
Garfield FS&LA, Pottstown, PA: received FDIC assistance December 20, 1982
Garfield FS&LA in Pottstown, Pennsylvania, received open bank assistance from the FDIC on December 20, 1982. It held $70.4 million in assets and $37.6 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $4.3 million (6.1% of its assets). By assets it was the 59th largest of 119 banks closed or assisted in 1982.
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The FDIC's record
- Closed
- December 20, 1982
- Type
- Open bank assistance
- How it was resolved
- Open bank assistance: the FDIC assisted the bank without closing it
- Acquirer
- Horizon Financial FA, Southampton, PA
- Total assets
- $70,418,958
- Total deposits
- $37,627,313
- Estimated cost to the FDIC
- $4,330,443 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- FSLIC
- FDIC certificate
- 29736
Other bank failures in Pennsylvania, 1980 to 1984
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Provident S&LA (assistance) | Philadelphia | July 5, 1983 | $51 million | $48 million | $1.5 million | Atlantic Financial Federal |
| Guaranty S&LA (assistance) | Pittsburgh | April 28, 1983 | $182.9 million | $135.2 million | $11.3 million | Horizon Financial FA |
| Mid-City FS&LA (assistance) | North Wales | December 20, 1982 | $47.8 million | $40.9 million | $1.2 million | Horizon Financial FA |
| First FS&LA of Pittston (assistance) | Pittston | July 16, 1982 | $45.8 million | $43.3 million | $7.1 million | Franklin First FS&LA |
| The Western Saving Fund Society of Philade (assistance) | Philadelphia | April 2, 1982 | $2.13 billion | $1.97 billion | $29.3 million | Philadelphia SVG Fund Socie |
| First Pennsylvania BK, N.A. (assistance) | Philadelphia | April 28, 1980 | $7.95 billion | $5.00 billion | First Pennsylvania BK, N.A. |
Other failed banks Horizon Financial FA took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Guaranty S&LA (assistance) | Pittsburgh | PA | April 28, 1983 | $182.9 million | $135.2 million | $11.3 million | Horizon Financial FA |
| Mid-City FS&LA (assistance) | North Wales | PA | December 20, 1982 | $47.8 million | $40.9 million | $1.2 million | Horizon Financial FA |
All bank failures in 1982 · All bank failures in Pennsylvania · Every failed bank Horizon Financial FA 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.