Data / Bank failures / 1986 / Mendon State Bank
Mendon State Bank, Mendon, IL: failed August 20, 1986
Mendon State Bank in Mendon, Illinois, failed on August 20, 1986. First Midwest Bank Quinc of Quincy, IL, took over its deposits. It held $18.9 million in assets and $17.6 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $8 million (42.4% of its assets). By assets it was the 140th largest of 204 banks closed or assisted in 1986.
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The FDIC's record
- Closed
- August 20, 1986
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- First Midwest Bank Quinc, Quincy, IL
- Total assets
- $18,891,000
- Total deposits
- $17,590,000
- Estimated cost to the FDIC
- $8,018,673 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- FDIC
- FDIC certificate
- 13714
Other bank failures in Illinois, 1984 to 1988
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Peoria S&LA (assistance) | Peoria | December 31, 1988 | $171.6 million | $148.1 million | $19.5 million | River Valley SB FSB |
| Pathway Financial (assistance) | Chicago | December 30, 1988 | $1.22 billion | $938.2 million | $498 million | Pathway Financial A FA |
| American SB (assistance) | Springfield | December 29, 1988 | $887 million | $845.6 million | $176.1 million | Citizens Savings |
| MT. Zion State Bank | Mount Zion | November 4, 1988 | $26.4 million | $25.7 million | Mount Zion State B&T Co | |
| Loves Park FSB (assistance) | Loves Park | September 21, 1988 | $40.8 million | $45 million | $5 million | Home FS&LA of Rockford |
| Fidelity FS&LA (assistance) | Berwyn | September 1, 1988 | $37.1 million | $39.5 million | $3.7 million | United Savings of America |
| Capitol FS&LA (assistance) | Evergreen Park | August 11, 1988 | $229.1 million | $219.7 million | $35.2 million | Standard FS&LA of Chicago |
| First FS&LA of Taylorville (assistance) | Taylorville | August 10, 1988 | $34.6 million | $37.6 million | $2.8 million | United Savings of America |
All bank failures in 1986 · 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.