Data / Bank failures / 1986 / Industrial National Bank of East Chicago
Industrial National Bank of East Chicago, East Chicago, IN: failed April 3, 1986
Industrial National Bank of East Chicago in East Chicago, Indiana, failed on April 3, 1986. Mercantile NB of Indiana of Hammond, IN, took over its deposits. It held $8.4 million in assets and $8.1 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $1.2 million (14.1% of its assets). By assets it was the 185th largest of 204 banks closed or assisted in 1986.
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The FDIC's record
- Closed
- April 3, 1986
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Mercantile NB of Indiana, Hammond, IN
- Total assets
- $8,387,000
- Total deposits
- $8,146,000
- Estimated cost to the FDIC
- $1,180,040 (estimate as of July 31, 2026)
- Charter
- National bank (supervised by the OCC)
- Insurance fund
- FDIC
- FDIC certificate
- 22774
Other bank failures in Indiana, 1984 to 1988
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Capital FS&LA (assistance) | Gary | October 12, 1988 | $51.4 million | $55.7 million | $6.5 million | First FSB of Indiana |
| First FSB of Indiana (assistance) | Merrillville | October 12, 1988 | $271.5 million | $287 million | $22.5 million | First FSB of Indiana |
| Liberty Bank & Trust Company | Warsaw | October 3, 1988 | $48.7 million | $45.8 million | $7.8 million | Trustcorp Bank Goshen |
| Citizens FS&LA of New Castle (assistance) | New Castle | September 30, 1988 | $51.9 million | $57 million | $5.3 million | Ameriana Savings Bank FSB |
| United Sa of Central Indiana (assistance) | Tipton | September 1, 1988 | $57.3 million | $65.1 million | $6.9 million | First Federal Bank A FSB |
| Frankton FS&LA (assistance) | Frankton | September 1, 1988 | $30.6 million | $33.1 million | $3 million | Union FSB of Frankton |
| Arsenal Sa (assistance) | Indianapolis | September 1, 1988 | $158.3 million | $178.7 million | $44.8 million | Union FSB of Indianapolis |
| American FS&LA | Anderson | April 29, 1988 | $145.8 million | $194.5 million | $41.5 million |
All bank failures in 1986 · All bank failures in Indiana · 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.