# CITIZENS SAVINGS AND LOAN

> **Failed bank** · EAST ALTON, IL · failed 1988-04-11 · SL · FDIC cost $6M

## What happened

CITIZENS SAVINGS AND LOAN of EAST ALTON, IL was closed by state regulators on **1988-04-11**. The FDIC was named receiver.

**Resolution:** A/A

Deposits were transferred to **LEMONT SAVINGS ASSN** (LEMONT, IL). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 1663
- **FDIC Certificate:** 30061
- **FDIC FIN:** 1726
- **Bank name:** CITIZENS SAVINGS AND LOAN
- **Location:** EAST ALTON, IL
- **Failure date:** 1988-04-11
- **FDIC resolution date:** 1988-04-11
- **Charter type:** SL
- **Resolution type:** A/A
- **Estimated FDIC DIF cost:** $6M
- **Deposits at failure:** $41M
- **Assets at failure:** $36M
- **Acquiring bank:** LEMONT SAVINGS ASSN (LEMONT, IL)

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=CITIZENS%20SAVINGS%20AND%20LOAN

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, CITIZENS SAVINGS AND LOAN (FDIC ID 1663), failed 1988-04-11. Retrieved via AI Analytics 2026-06-10 from https://api.ai-analytics.org/failed-bank/1663.

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