Data / Bank failures / 1989 / Illinois Savings Bank
Illinois Savings Bank, Peoria, IL: failed March 16, 1989
Illinois Savings Bank in Peoria, Illinois, failed on March 16, 1989. Heart of Il Bank, FSB of Spring Valley, IL, took over its deposits. It held $78 million in assets and $67.8 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $4.6 million (5.9% of its assets). By assets it was the 250th largest of 534 banks closed or assisted in 1989.
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The FDIC's record
- Closed
- March 16, 1989
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Heart of Il Bank, FSB, Spring Valley, IL
- Total assets
- $78,018,000
- Total deposits
- $67,821,000
- Estimated cost to the FDIC
- $4,580,198 (estimate as of July 31, 2026)
- Charter
- Savings bank
- Insurance fund
- RTC
- FDIC certificate
- 31355
Other bank failures in Illinois, 1987 to 1991
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Western FS & La | Clenview | November 22, 1991 | $33.2 million | $26.4 million | $1.8 million | Devon Bank |
| United Savings of America | Chicago | September 27, 1991 | $1.16 billion | $1.07 billion | $63.5 million | First NB of Chicago |
| First Bank and Trust (assistance) | Harrisburg | September 16, 1991 | $26.6 million | $26.2 million | $626,895 | First Bank and Trust |
| Cooperative FSB | Westmont | July 19, 1991 | $74.9 million | $47 million | $1,159 | Heritage Glenwood Bank |
| The Cosmopolitan National Bank of Chicago | Chicago | May 17, 1991 | $110.1 million | $108.5 million | $14.9 million | Cosmopolitan Bank and Trust |
| Capitol Federal Bank for Savings | Chicago | May 10, 1991 | $39.3 million | $33.4 million | Columbia NB of Chicago | |
| Century Federal Savings | Chicago | May 3, 1991 | $25.9 million | $24.4 million | $1.3 million | Metropolitan B&TC |
| First Savings of Zion | Zion | April 5, 1991 | $63.2 million | $60.6 million | $6.2 million | Advantage Bank |
All bank failures in 1989 · All bank failures in Illinois · 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.