Data / Bank failures / 1991 / Merchants & Mechanics FSB
Merchants & Mechanics FSB, Springfield, OH: failed August 23, 1991
Merchants & Mechanics FSB in Springfield, Ohio, failed on August 23, 1991. Banc One FSB of Columbus, OH, took over its deposits. It held $209.9 million in assets and $206.1 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $22.6 million (10.7% of its assets). By assets it was the 89th largest of 271 banks closed or assisted in 1991.
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The FDIC's record
- Closed
- August 23, 1991
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Banc One FSB, Columbus, OH
- Total assets
- $209,860,000
- Total deposits
- $206,081,000
- Estimated cost to the FDIC
- $22,550,337 (estimate as of July 31, 2026)
- Charter
- Savings bank
- Insurance fund
- RTC
- FDIC certificate
- 27693
Other bank failures in Ohio, 1989 to 1993
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Crestline FS & La | Crestline | November 20, 1992 | $27.5 million | $26.8 million | $6.9 million | Premier B&T |
| Transohio, FSB | Cleveland | July 10, 1992 | $3.37 billion | $2.40 billion | $52.1 million | |
| First Ohio SB, FSB | ST. Bernard | March 13, 1992 | $40.8 million | $31.8 million | $228 | Patriot FSB |
| United Home Federal | Toledo | September 6, 1991 | $443.4 million | $446.9 million | $9.7 million | Standard FB |
| First FS & La | MT. Vernon | August 23, 1991 | $73.1 million | $74.4 million | $4,163 | First FS&LA of Wooster |
| Liberty SB, FSB | Marietta | May 3, 1991 | $17.8 million | $17.8 million | $3.3 million | People's B&TC |
| Columbia Fsa of Hamilton | Hamilton | April 5, 1991 | $61.3 million | $51.7 million | $1.2 million | Home FB, A FSB |
| Arcanium Fsa | Arcanum | March 15, 1991 | $45.4 million | $46.8 million | $2.9 million | Second NB |
Other failed banks Banc One FSB took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Bright Banc | Dallas | TX | February 10, 1989 | $4.39 billion | $3.00 billion | $1.31 billion | Banc One FSB |
All bank failures in 1991 · All bank failures in Ohio · Every failed bank Banc One FSB 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.