Data / Bank failures / 1988 / Liberty Bank & Trust Company
Liberty Bank & Trust Company, Warsaw, IN: failed October 3, 1988
Liberty Bank & Trust Company in Warsaw, Indiana, failed on October 3, 1988. Trustcorp Bank Goshen of Goshen, IN, took over its deposits. It held $48.7 million in assets and $45.8 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $7.8 million (16% of its assets). By assets it was the 282nd largest of 470 banks closed or assisted in 1988.
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The FDIC's record
- Closed
- October 3, 1988
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Trustcorp Bank Goshen, Goshen, IN
- Total assets
- $48,687,000
- Total deposits
- $45,800,000
- Estimated cost to the FDIC
- $7,771,352 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- FDIC
- FDIC certificate
- 8040
Other bank failures in Indiana, 1986 to 1990
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Hometown Savings Bank FSB | Delphi | June 8, 1990 | $64.7 million | $58.7 million | $8.1 million | |
| First Federal S & L /central Indiana | Anderson | November 16, 1989 | $192.4 million | $176.7 million | $15.1 million | Shelby FSB |
| Pioneer Savings FA | Plymouth | July 13, 1989 | $81 million | $92.3 million | $1.2 million | Ameritrust NB |
| 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 |
| 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 |
All bank failures in 1988 · 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.