# FIRST FEDERAL SAVINGS BANK

> **Failed bank** · SHENADOAH, IA · failed 1988-08-11 · Savings bank · FDIC cost $2M

## What happened

FIRST FEDERAL SAVINGS BANK of SHENADOAH, IA was closed by state regulators on **1988-08-11**. The FDIC was named receiver.

**Resolution:** A/A

Deposits were transferred to **FIRST FS&LA OF LINCOLN-IOWA** (COUNCIL BLUFFS, IA). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 1856
- **FDIC Certificate:** 29050
- **FDIC FIN:** 1740
- **Bank name:** FIRST FEDERAL SAVINGS BANK
- **Location:** SHENADOAH, IA
- **Failure date:** 1988-08-11
- **FDIC resolution date:** 1988-08-11
- **Charter type:** Savings bank
- **Resolution type:** A/A
- **Estimated FDIC DIF cost:** $2M
- **Deposits at failure:** $23M
- **Assets at failure:** $21M
- **Acquiring bank:** FIRST FS&LA OF LINCOLN-IOWA (COUNCIL BLUFFS, IA)

## Other banks FIRST FS&LA OF LINCOLN-IOWA has acquired in FDIC resolutions

- WESTERN FS&LA (COUNCIL BLUFFS, IA) — failed 1988-08-11 — /failed-bank/1857

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=FIRST%20FEDERAL%20SAVINGS%20BANK

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, FIRST FEDERAL SAVINGS BANK (FDIC ID 1856), failed 1988-08-11. Retrieved via AI Analytics 2026-06-26 from https://api.ai-analytics.org/failed-bank/1856.

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