# PERPETUAL S&LA

> **Failed bank** · WATERLOO, IA · failed 1988-03-11 · SL · FDIC cost $21M

## What happened

PERPETUAL S&LA of WATERLOO, IA was closed by state regulators on **1988-03-11**. The FDIC was named receiver.

**Resolution:** A/A

Deposits were transferred to **STATESMAN BANK FOR SVG FSB** (WATERLOO, IA). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 1647
- **FDIC Certificate:** 29982
- **FDIC FIN:** 1724
- **Bank name:** PERPETUAL S&LA
- **Location:** WATERLOO, IA
- **Failure date:** 1988-03-11
- **FDIC resolution date:** 1988-03-11
- **Charter type:** SL
- **Resolution type:** A/A
- **Estimated FDIC DIF cost:** $21M
- **Deposits at failure:** $111M
- **Assets at failure:** $113M
- **Acquiring bank:** STATESMAN BANK FOR SVG FSB (WATERLOO, IA)

## Other banks STATESMAN BANK FOR SVG FSB has acquired in FDIC resolutions

- FIRST FEDERATED SAVINGS BANK (N. PALM BEACH, FL) — failed 1988-03-11 — /failed-bank/1649
- PEOPLES FS&LA (WATERLOO, IA) — failed 1988-03-11 — /failed-bank/1648
- FIRST FEDERAL SAVINGS BANK (WATERLOO, IA) — failed 1988-03-11 — /failed-bank/1645

## Primary source

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

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, PERPETUAL S&LA (FDIC ID 1647), failed 1988-03-11. Retrieved via AI Analytics 2026-05-19 from https://api.ai-analytics.org/failed-bank/1647.

---

*[FDIC failures dataset](/datasets/fdic-failures) · CC0 1.0*