# FIRST FS&LA OF GRAND RAPIDS

> **Failed bank** · GRAND RAPIDS, MN · failed 1988-08-26 · SL · FDIC cost $45M

## What happened

FIRST FS&LA OF GRAND RAPIDS of GRAND RAPIDS, MN was closed by state regulators on **1988-08-26**. The FDIC was named receiver.

**Resolution:** A/A

Deposits were transferred to **FIRST FS&LA OF BRAINERD** (BRAINERD, MN). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 1886
- **FDIC Certificate:** 30868
- **FDIC FIN:** 1741
- **Bank name:** FIRST FS&LA OF GRAND RAPIDS
- **Location:** GRAND RAPIDS, MN
- **Failure date:** 1988-08-26
- **FDIC resolution date:** 1988-08-26
- **Charter type:** SL
- **Resolution type:** A/A
- **Estimated FDIC DIF cost:** $45M
- **Deposits at failure:** $97M
- **Assets at failure:** $106M
- **Acquiring bank:** FIRST FS&LA OF BRAINERD (BRAINERD, MN)

## Other banks FIRST FS&LA OF BRAINERD has acquired in FDIC resolutions

- FIRST FS&LA OF HIBBING (HIBBING, MN) — failed 1988-08-26 — /failed-bank/1885
- FIRST FS&LA OF BRAINERD (BRAINERD, MN) — failed 1988-08-26 — /failed-bank/1884

## Primary source

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

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, FIRST FS&LA OF GRAND RAPIDS (FDIC ID 1886), failed 1988-08-26. Retrieved via AI Analytics 2026-06-25 from https://api.ai-analytics.org/failed-bank/1886.

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