Data / Bank failures / 1982 / Island S&LA
Island S&LA, Hempstead, NY: received FDIC assistance November 15, 1982
Island S&LA in Hempstead, New York, received open bank assistance from the FDIC on November 15, 1982. It held $284.5 million in assets and $221 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $12.1 million (4.2% of its assets). By assets it was the 33rd largest of 119 banks closed or assisted in 1982.
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The FDIC's record
- Closed
- November 15, 1982
- Type
- Open bank assistance
- How it was resolved
- Open bank assistance: the FDIC assisted the bank without closing it
- Acquirer
- Empire of America Fsa, Deland, FL
- Total assets
- $284,483,429
- Total deposits
- $221,013,037
- Estimated cost to the FDIC
- $12,057,980 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- FSLIC
- FDIC certificate
- 28076
Other bank failures in New York, 1980 to 1984
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Suburbia FS&LA (assistance) | Garden City | October 1, 1984 | $660.2 million | $630.8 million | $16 million | Fidelity New York FA |
| Century FS&LA (assistance) | Cedarhurst | August 10, 1984 | $651.7 million | $724.5 million | $6.5 million | Home Savings of America FA |
| Auburn Savings Bank (assistance) | Auburn | October 1, 1983 | $133.2 million | $131.4 million | Syracuse Savings Bank | |
| Washington FS&LA (assistance) | New York | August 31, 1983 | $645 million | $548.3 million | $11.8 million | Ensign Bank FSB |
| Dry Dock Savings Bank (assistance) | New York | February 9, 1983 | $2.45 billion | $2.04 billion | $59.4 million | Dollar-Dry SB of Ny |
| South Shore FS&LA (assistance) | Massapequa | November 15, 1982 | $366.1 million | $272.2 million | $19.5 million | Empire of America Fsa |
| Mechanics Savings Bank (assistance) | Elmira | October 15, 1982 | $55.3 million | $50.6 million | Syracuse Savings Bank | |
| United Mutual Savings Bank (assistance) | New York | September 24, 1982 | $832.9 million | $777.9 million | $33.1 million | American Savings Bank |
Other failed banks Empire of America Fsa took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| South Shore FS&LA (assistance) | Massapequa | NY | November 15, 1982 | $366.1 million | $272.2 million | $19.5 million | Empire of America Fsa |
| Harris County FS&LA (assistance) | Baytown | TX | July 30, 1982 | $181.7 million | $157.8 million | $537,045 | Empire of America Fsa |
All bank failures in 1982 · All bank failures in New York · Every failed bank Empire of America Fsa 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.