# CITIZENS S&LA

> **Failed bank** · SALEM, OR · failed 1985-12-04 · SL · FDIC cost $85M

## What happened

CITIZENS S&LA of SALEM, OR was closed by state regulators on **1985-12-04**. The FDIC was named receiver.

**Resolution:** Insured Deposit Transfer — insured deposits transferred to another bank

Deposits were transferred to **FREEDOM FS&LA** (CORVALLIS, OR). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 1111
- **FDIC Certificate:** 31792
- **FDIC FIN:** 7565
- **Bank name:** CITIZENS S&LA
- **Location:** SALEM, OR
- **Failure date:** 1985-12-04
- **FDIC resolution date:** 1988-01-29
- **Charter type:** SL
- **Resolution type:** Insured Deposit Transfer — insured deposits transferred to another bank
- **Estimated FDIC DIF cost:** $85M
- **Deposits at failure:** $153M
- **Assets at failure:** $240M
- **Acquiring bank:** FREEDOM FS&LA (CORVALLIS, OR)

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=CITIZENS%20S%26LA

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, CITIZENS S&LA (FDIC ID 1111), failed 1985-12-04. Retrieved via AI Analytics 2026-05-17 from https://api.ai-analytics.org/failed-bank/1111.

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