Data / Bank failures / 1983 / Gem FS&LA
Gem FS&LA, Norwood, OH: received FDIC assistance March 1, 1983
Gem FS&LA in Norwood, Ohio, received open bank assistance from the FDIC on March 1, 1983. It held $16.8 million in assets and $11.1 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $976,978 (5.8% of its assets). By assets it was the 83rd largest of 99 banks closed or assisted in 1983.
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The FDIC's record
- Closed
- March 1, 1983
- Type
- Open bank assistance
- How it was resolved
- Open bank assistance: the FDIC assisted the bank without closing it
- Acquirer
- Gem Sa, Dayton, OH
- Total assets
- $16,758,120
- Total deposits
- $11,088,060
- Estimated cost to the FDIC
- $976,978 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- FSLIC
- FDIC certificate
- 27823
Other bank failures in Ohio, 1981 to 1985
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Home FS&LA (assistance) | Marion | May 22, 1985 | $201.9 million | $206.6 million | Home Savings of America FA | |
| Fidelity S&L (assistance) | Martins Ferry | January 1, 1985 | $72.5 million | $72.5 million | Household Bank FSB | |
| Continental FS&LA (assistance) | Cleveland | September 21, 1984 | $1.04 billion | $837.7 million | $80.8 million | Dollar Savings Bank, Pa |
| Home S&LA (assistance) | Norwalk | March 1, 1984 | $77.5 million | $75.7 million | $3.1 million | Home S&L Co., A Division of |
| Citizens S&LA (assistance) | Middletown | December 27, 1983 | $63.6 million | $50.9 million | $5.4 million | Middletown FS&LA |
| Cleveland Community Savings Co. | Cleveland | October 28, 1983 | $21 million | $17.3 million | $15.9 million | |
| Citizens FS&LA of Marysville (assistance) | Marysville | September 1, 1983 | $96.6 million | $89.2 million | Equitable FS&LA | |
| Women's FS&LA (assistance) | Cleveland | June 3, 1983 | $570.2 million | $513 million | $26 million | Women's Federal Savings Ban |
Other failed banks Gem Sa took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| United S&LA (assistance) | Cincinnati | OH | March 1, 1983 | $102.1 million | $68.6 million | $8.1 million | Gem Sa |
All bank failures in 1983 · All bank failures in Ohio · Every failed bank Gem Sa 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.