Data / Bank failures / 1986 / Major Federal S&LA
Major Federal S&LA, Cincinnati, OH: failed July 25, 1986
Major Federal S&LA in Cincinnati, Ohio, failed on July 25, 1986. Charter Oak FSB of Cincinnati, OH, took over its deposits. It held $25 million in assets and $21.4 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $8.8 million (35.3% of its assets). By assets it was the 119th largest of 204 banks closed or assisted in 1986.
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The FDIC's record
- Closed
- July 25, 1986
- Type
- Failure
- Acquirer
- Charter Oak FSB, Cincinnati, OH
- Total assets
- $24,999,000
- Total deposits
- $21,433,000
- Estimated cost to the FDIC
- $8,837,000 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- FSLIC
- FDIC certificate
- 30768
Other bank failures in Ohio, 1984 to 1988
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| First Border SB (assistance) | Piqua | December 17, 1988 | $111 million | $107.2 million | $19.6 million | World S&LA of Ohio |
| Ohio Valley (assistance) | Steubenville | December 17, 1988 | $203.9 million | $238 million | $63.2 million | World S&LA |
| Cardinal FSB (assistance) | Cleveland | December 1, 1988 | $1.47 billion | $1.46 billion | $452.7 million | Cardinal FSB |
| Southside S&L (assistance) | Lima | November 1, 1988 | $54.1 million | $54.7 million | $12.1 million | South Side Savings Bank FSB |
| Peoples FSB (assistance) | Wooster | October 25, 1988 | $341.1 million | $347.3 million | $33.4 million | Peoples Federal Savings Ban |
| Unity Bank | Dayton | April 22, 1988 | $7.1 million | $6.7 million | $1.9 million | First National Bank |
| American National Bank (assistance) | Parma | February 12, 1988 | $27.8 million | $25.4 million | American National Bank | |
| Community FS&LA (assistance) | Hamilton | December 29, 1987 | $405.6 million | $379 million | $21.3 million | Union Federal Savings Bank |
All bank failures in 1986 · All bank failures in Ohio · 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.