Data / Bank failures / 1989 / Sioux Valley S & La
Sioux Valley S & La, Cherokee, IA: failed April 6, 1989
Sioux Valley S & La in Cherokee, Iowa, failed on April 6, 1989. It held $61.8 million in assets and $90.8 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $41.9 million (67.9% of its assets). By assets it was the 289th largest of 534 banks closed or assisted in 1989.
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The FDIC's record
- Closed
- April 6, 1989
- Type
- Failure
- How it was resolved
- Payout: the FDIC paid insured depositors directly
- Acquirer
- None, NA
- Total assets
- $61,788,000
- Total deposits
- $90,792,000
- Estimated cost to the FDIC
- $41,941,359 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- RTC
- FDIC certificate
- 30518
Other bank failures in Iowa, 1987 to 1991
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Peoples Fsa | Ottumwa | November 22, 1991 | $34.3 million | $33.7 million | $735,332 | South Ottumwa SB |
| Home FS & La of Harlan | Harlan | September 27, 1991 | $91.4 million | $89 million | $35,348 | Conservative SB FSB |
| First FS & La of Creston | Creston | May 10, 1991 | $67.3 million | $67.9 million | $1.8 million | First FSB of Creston |
| Home FS & La, FA | Algona | April 26, 1991 | $134.3 million | $116.9 million | $4,123 | |
| United Fsa of Iowa | Des Moines | March 22, 1991 | $895.8 million | $715.8 million | $50.2 million | |
| Statesman Bank for Savings, FSB | Des Moines | July 27, 1990 | $540.4 million | $445.1 million | $20.4 million | |
| Sun Federal Savings Assoc. | Fort Dodge | March 16, 1990 | $24.3 million | $19 million | $1.8 million | Ida County State Bank |
| American Federal Savings Assoc. | Des Moines | February 9, 1990 | $910.7 million | $817.9 million | $23.5 million |
All bank failures in 1989 · All bank failures in Iowa · 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.