Data / Bank failures / 1988 / MT. Zion State Bank
MT. Zion State Bank, Mount Zion, IL: failed November 4, 1988
MT. Zion State Bank in Mount Zion, Illinois, failed on November 4, 1988. Mount Zion State B&T Co of Mount Zion, IL, took over its deposits. It held $26.4 million in assets and $25.7 million in deposits at its last report. By assets it was the 353rd largest of 470 banks closed or assisted in 1988.
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The FDIC's record
- Closed
- November 4, 1988
- Type
- Failure
- How it was resolved
- Insured deposit transfer: the insured deposits moved to another bank
- Acquirer
- Mount Zion State B&T Co, Mount Zion, IL
- Total assets
- $26,444,000
- Total deposits
- $25,661,000
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- FDIC
- FDIC certificate
- 10836
Other bank failures in Illinois, 1986 to 1990
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Enterprise Savings Bank, FA | Chicago | December 27, 1990 | $432.6 million | $322 million | $12.6 million | United FB |
| Home Federal Bank for Savings | Waukegan | December 14, 1990 | $348.1 million | $196.1 million | $19.6 million | First of Amer. Bk-N.e. Il |
| Olympic Federal Savings | Berwyn | December 14, 1990 | $1.05 billion | $683.7 million | $73.9 million | |
| First Fsa of Tuscola | Tuscola | August 17, 1990 | $23.2 million | $23.4 million | $2 million | First NB of Arcola |
| American Sa of MT. Carmel | MT. Carmel | August 10, 1990 | $11.9 million | $11.8 million | $1.8 million | Union FSB |
| Hometown Fsa | Winfield | August 3, 1990 | $46.5 million | $39.4 million | $6.3 million | Irving Bank |
| Summit First S & La | Summit | July 13, 1990 | $57.8 million | $55.8 million | $-21,036 | Marquette NB |
| Germania Bank, FSB | Alton | June 22, 1990 | $785.5 million | $663.3 million | $60.7 million | Mercantile Bank of ST. Loui |
All bank failures in 1988 · 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.