Data / Bank failures / 1990 / United Savings Bank, FSB
United Savings Bank, FSB, Windom, MN: failed May 11, 1990
United Savings Bank, FSB in Windom, Minnesota, failed on May 11, 1990. It held $161.5 million in assets and $133.2 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $43.8 million (27.2% of its assets). By assets it was the 113th largest of 382 banks closed or assisted in 1990.
SpecStream is the live web data engine for teams and agents. It reads the FDIC failed bank data every morning, and this page is that reading. Ask for the banks you follow and each new closure arrives in your sheet, CRM, Slack or agent as the FDIC announces it.
The FDIC's record
- Closed
- May 11, 1990
- Type
- Failure
- How it was resolved
- Insured deposit transfer: the insured deposits moved to another bank
- Acquirer
- None, NA
- Total assets
- $161,452,000
- Total deposits
- $133,233,000
- Estimated cost to the FDIC
- $43,840,614 (estimate as of July 31, 2026)
- Charter
- Savings bank
- Insurance fund
- RTC
- FDIC certificate
- 29182
Other bank failures in Minnesota, 1988 to 1992
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| State Bank of Springfield | Springfield | July 17, 1992 | $30.3 million | $28.5 million | $127,067 | Southwest State Bank |
| First FS & La of Thief River Falls | Thief River Falls | August 9, 1991 | $54.6 million | $55.5 million | $2.6 million | No. State BK of Thief Riv. |
| Boundary Waters State Bank | Ely | November 30, 1990 | $13.4 million | $13.4 million | $1.5 million | Stearns County National Ban |
| Lakeland Savings Bank FSB | Detroit Lakes | March 16, 1990 | $79.6 million | $80.6 million | $24.8 million | First Security State Bank |
| Fairmont Federal Savings Assoc. | Fairmont | February 9, 1990 | $46 million | $46.4 million | $1.3 million | First Farmers & Merchant NB |
| The Lee State Bank | Browerville | November 9, 1989 | $13.4 million | $13.5 million | $2.7 million | First National Bank of Long |
| Midwest Federal Savings | Minneapolis | February 13, 1989 | $3.26 billion | $2.24 billion | $754.8 million | |
| Watson State Bank | Watson | September 30, 1988 | $13.7 million | $12.9 million | $5.1 million | Minnwest Bank Montevideo |
All bank failures in 1990 · All bank failures in Minnesota · 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.