Data / Bank failures / 1988 / United FS&LA
United FS&LA, Aberdeen, SD: received FDIC assistance December 1, 1988
United FS&LA in Aberdeen, South Dakota, received open bank assistance from the FDIC on December 1, 1988. It held $92.5 million in assets and $92 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $8 million (8.7% of its assets). By assets it was the 195th largest of 470 banks closed or assisted in 1988.
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The FDIC's record
- Closed
- December 1, 1988
- Type
- Open bank assistance
- How it was resolved
- Open bank assistance: the FDIC assisted the bank without closing it
- Acquirer
- Home FS&LA of Sioux Falls, Sioux Falls, SD
- Total assets
- $92,527,000
- Total deposits
- $91,975,000
- Estimated cost to the FDIC
- $8,015,000 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- FSLIC
- FDIC certificate
- 29181
Other bank failures in South Dakota, 1986 to 1990
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Marshall County Bank | Britton | August 19, 1988 | $10.7 million | $9.4 million | $229,170 | First National Bank |
| The American State Bank (assistance) | Yankton | May 18, 1988 | $62.1 million | $59 million | $265,335 | First Dakota National Bank |
| First City - Sioux Falls N.A. (assistance) | Sioux Falls | April 20, 1988 | $597.7 million | $227.7 million | First City - Sioux Falls N. | |
| Tri-State National Bank | Belle Fourche | November 10, 1987 | $10.7 million | $10.7 million | $1.8 million | First Western Bank Sturg |
| First State Bank of Sisseton | Sisseton | May 7, 1987 | $20.1 million | $19.4 million | $4.5 million | FARMERS&MERCHANTS B&T Co |
| Stockholm State Bank | Stockholm | March 27, 1986 | $7.2 million | $6.6 million | $991,473 | Community STB of Stockho |
All bank failures in 1988 · All bank failures in South Dakota · 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.