Data / Bank failures / 1989 / Missouri Savings Association
Missouri Savings Association, Clayton, MO: failed June 29, 1989
Missouri Savings Association in Clayton, Missouri, failed on June 29, 1989. Mercantile Bank of ST. Loui of ST. Louis, MO, took over its deposits. It held $661.1 million in assets and $500.7 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $48.8 million (7.4% of its assets). By assets it was the 53rd largest of 534 banks closed or assisted in 1989.
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The FDIC's record
- Closed
- June 29, 1989
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Mercantile Bank of ST. Loui, ST. Louis, MO
- Total assets
- $661,088,000
- Total deposits
- $500,715,000
- Estimated cost to the FDIC
- $48,839,939 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- RTC
- FDIC certificate
- 28581
Other bank failures in Missouri, 1987 to 1991
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| New Age Fsa | ST. Louis | August 23, 1991 | $9.2 million | $9.6 million | $1.9 million | Commerce Bank of ST. Louis |
| Home Savings Association | Kansas City | March 15, 1991 | $2.94 billion | $2.62 billion | $307.6 million | |
| Community FS & La | ST. Louis | December 14, 1990 | $1.98 billion | $2.28 billion | $305.9 million | Boatmen's Bancshares, Inc. |
| Boonslick S & La | Boonville | November 2, 1990 | $70.2 million | $70.1 million | $2.9 million | |
| Gentry County Bank | Albany | May 24, 1990 | $42.3 million | $46.3 million | $5.6 million | Citizens National Bank |
| First Fed. Savings Bank & Trust | Independence | May 4, 1990 | $25.4 million | $21.1 million | $9.9 million | Bank 10 |
| Colonial S & La | Cape Girardeau | January 26, 1990 | $170.9 million | $157.4 million | $8 million | |
| ST. Louis County Savings Assoc. | Ferguson | January 11, 1990 | $85.8 million | $81.2 million | $9,713 | South Side NB in ST. Louis |
Other failed banks Mercantile Bank of ST. Loui took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Germania Bank, FSB | Alton | IL | June 22, 1990 | $785.5 million | $663.3 million | $60.7 million | Mercantile Bank of ST. Loui |
All bank failures in 1989 · All bank failures in Missouri · Every failed bank Mercantile Bank of ST. Loui took over · The full failed bank list
Read from the FDIC's failures data (BankFind), last updated 2026-10-24. 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.