Data / Bank failures / 1985 / Taylor State Bank
Taylor State Bank, Emington, IL: failed March 15, 1985
Taylor State Bank in Emington, Illinois, failed on March 15, 1985. First NB of Dwight of Dwight, IL, took over its deposits. It held $5 million in assets and $4.8 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $1.5 million (29.3% of its assets). By assets it was the 166th largest of 180 banks closed or assisted in 1985.
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The FDIC's record
- Closed
- March 15, 1985
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- First NB of Dwight, Dwight, IL
- Total assets
- $4,980,000
- Total deposits
- $4,840,000
- Estimated cost to the FDIC
- $1,459,531 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- FDIC
- FDIC certificate
- 10811
Other bank failures in Illinois, 1983 to 1987
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Gibson Federal S&LA (assistance) | Gibson City | December 31, 1987 | $131.5 million | $146.2 million | $37.4 million | Champion Federal S&LA |
| Argo FS&LA (assistance) | Summit | November 17, 1987 | $25.6 million | $29.7 million | $3.6 million | Argo S&LA Fed S&L Associati |
| Lyons Federal Trust & Savings (assistance) | Countryside | September 24, 1987 | $2.28 billion | $1.54 billion | $561.6 million | Superior Bank, FSB |
| The Lewistown Bank | Lewistown | February 27, 1987 | $15.3 million | $14.9 million | $4.2 million | National Bank of Canton |
| Life Savings of America | Rockford | February 13, 1987 | $342.3 million | $339.2 million | $115.7 million | |
| State Bank of Cuba | Cuba | January 9, 1987 | $18.3 million | $17.7 million | $2.5 million | National Bank of Canton |
| First Savings of America | Orland Park | December 12, 1986 | $47 million | $56 million | ||
| Republic Savings Bank (assistance) | South Beloit | October 1, 1986 | $56.8 million | $60.3 million | $20.3 million | River Valley Savings Bank |
All bank failures in 1985 · 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.