Data / Bank failures / 1988 / Peoples S&LA
Peoples S&LA, La Grande, OR: failed September 23, 1988
Peoples S&LA in La Grande, Oregon, failed on September 23, 1988. It held $22.5 million in assets and $19.8 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $19.3 million (85.5% of its assets). By assets it was the 370th largest of 470 banks closed or assisted in 1988.
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The FDIC's record
- Closed
- September 23, 1988
- Type
- Failure
- How it was resolved
- Insured deposit transfer: the insured deposits moved to another bank
- Total assets
- $22,515,000
- Total deposits
- $19,750,000
- Estimated cost to the FDIC
- $19,256,610 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- FSLIC
- FDIC certificate
- 32005
Other bank failures in Oregon, 1986 to 1990
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| The Ben Franklin FS & La | Portland | February 21, 1990 | $4.62 billion | $3.22 billion | $132,513 | Bank of America, FSB |
| Family Federal Savings | Dallas | January 11, 1990 | $164.2 million | $100.7 million | $4.2 million | Washington FS&LA |
| Jackson County Fsa (assistance) | Medford | December 30, 1988 | $266.1 million | $275 million | $72.4 million | Jackson County FS&LA |
| American Home Savings (assistance) | Salem | December 15, 1988 | $403 million | $382.7 million | $145.3 million | American Home Savings A FSB |
| Lewis and Clark State Bank | Lake Oswego | December 11, 1987 | $20.3 million | $19.8 million | $2.5 million | Key Bank of Oregon |
| Future S&LA | Albany | April 10, 1987 | $57.6 million | $57.7 million | $15.8 million | |
| Umpqua S&LA | Roseburg | January 16, 1987 | $108.2 million | $88.5 million | $11.9 million | |
| Columbia Community Bank | Hermiston | October 3, 1986 | $5.3 million | $5 million | $1 million | Inland Empire Bank |
All bank failures in 1988 · All bank failures in Oregon · 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.