# PEOPLES FS&LA

> **Failed bank** · WATERLOO, IA · failed 1988-03-11 · SL · FDIC cost $27M

## What happened

PEOPLES FS&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:** 1648
- **FDIC Certificate:** 30818
- **FDIC FIN:** 1724
- **Bank name:** PEOPLES FS&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:** $27M
- **Deposits at failure:** $139M
- **Assets at failure:** $151M
- **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
- PERPETUAL S&LA (WATERLOO, IA) — failed 1988-03-11 — /failed-bank/1647
- 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=PEOPLES%20FS%26LA

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, PEOPLES FS&LA (FDIC ID 1648), failed 1988-03-11. Retrieved via AI Analytics 2026-06-25 from https://api.ai-analytics.org/failed-bank/1648.

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