# PEOPLES S&LA

> **Failed bank** · OWANTONNA, MN · failed 1988-08-26 · SL · FDIC cost $36M

## What happened

PEOPLES S&LA of OWANTONNA, MN was closed by state regulators on **1988-08-26**. The FDIC was named receiver.

**Resolution:** A/A

Deposits were transferred to **METROPOLITAN FED BK FSB** (FARGO, ND). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 1887
- **FDIC Certificate:** 31295
- **FDIC FIN:** 1741
- **Bank name:** PEOPLES S&LA
- **Location:** OWANTONNA, MN
- **Failure date:** 1988-08-26
- **FDIC resolution date:** 1988-08-26
- **Charter type:** SL
- **Resolution type:** A/A
- **Estimated FDIC DIF cost:** $36M
- **Deposits at failure:** $204M
- **Assets at failure:** $211M
- **Acquiring bank:** METROPOLITAN FED BK FSB (FARGO, ND)

## Other banks METROPOLITAN FED BK FSB has acquired in FDIC resolutions

- MITCHELL HOME S&LA (MITCHELL, SD) — failed 1984-08-01 — /failed-bank/900

## Primary source

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

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, PEOPLES S&LA (FDIC ID 1887), failed 1988-08-26. Retrieved via AI Analytics 2026-05-19 from https://api.ai-analytics.org/failed-bank/1887.

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