Data / Bank failures / 1989 / New Guaranty Fed. S & L Assoc.
New Guaranty Fed. S & L Assoc., Taylor, MI: failed July 27, 1989
New Guaranty Fed. S & L Assoc. in Taylor, Michigan, failed on July 27, 1989. National Bank of Detroit of Detroit, MI, took over its deposits. It held $212.5 million in assets and $192.5 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $7.9 million (3.7% of its assets). By assets it was the 127th largest of 534 banks closed or assisted in 1989.
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The FDIC's record
- Closed
- July 27, 1989
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- National Bank of Detroit, Detroit, MI
- Total assets
- $212,547,000
- Total deposits
- $192,498,000
- Estimated cost to the FDIC
- $7,919,295 (estimate as of July 31, 2026)
- Charter
- Savings bank
- Insurance fund
- RTC
- FDIC certificate
- 30484
Other bank failures in Michigan, 1987 to 1991
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| First FS & La | Pontiac | October 16, 1991 | $917 million | $558.6 million | $34.3 million | |
| Ludington FSB | Ludington | May 17, 1991 | $34.2 million | $33.7 million | $806,591 | Northwestern SB&T |
| Peoples Savings Assoc. | ST. Joseph | March 9, 1989 | $107.3 million | $109.4 million | $4,851 | Peoples SB |
| Bloomfield S&LA (assistance) | Birmingham | December 16, 1988 | $688.7 million | $607.4 million | $119.6 million | First Nationwide Bank A FSB |
| First Dearborn (assistance) | Dearborn | December 16, 1988 | $167.3 million | $230.5 million | $78.7 million | First Nationwide Bank A FSB |
| Muskegon FS&LA (assistance) | Muskegon | June 2, 1988 | $204.6 million | $196 million | $2 million | Muskegon FS&LA |
| The First State Bank | White Cloud | February 12, 1988 | $36.4 million | $37.4 million | $10.5 million | Peoples STB of ST Joseph |
All bank failures in 1989 · All bank failures in Michigan · 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.