# ARGO FS&LA

> **Failed bank** · SUMMIT, IL · failed 1987-11-17 · SL · FDIC cost $4M

## What happened

ARGO FS&LA of SUMMIT, IL was closed by state regulators on **1987-11-17**. The FDIC was named receiver.

**Resolution:** A/A

Deposits were transferred to **ARGO S&LA FED S&L ASSOCIATI** (SUMMIT, IL). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 1557
- **FDIC Certificate:** 28921
- **FDIC FIN:** 0
- **Bank name:** ARGO FS&LA
- **Location:** SUMMIT, IL
- **Failure date:** 1987-11-17
- **FDIC resolution date:** 1987-11-17
- **Charter type:** SL
- **Resolution type:** A/A
- **Estimated FDIC DIF cost:** $4M
- **Deposits at failure:** $30M
- **Assets at failure:** $26M
- **Acquiring bank:** ARGO S&LA FED S&L ASSOCIATI (SUMMIT, IL)

## Primary source

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

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, ARGO FS&LA (FDIC ID 1557), failed 1987-11-17. Retrieved via AI Analytics 2026-07-03 from https://api.ai-analytics.org/failed-bank/1557.

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