FIRST FINANCIAL SB Failed 1988

What happened

FIRST FINANCIAL SB of DES MOINES, IA was closed on 1988-12-28. The FDIC was named receiver.

Resolution: A/A

Deposits were transferred to METROPOLITAN FEDERAL BANK O (MASON CITY, IA). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

2039

FDIC Certificate

31244

FDIC FIN

1781

Bank name

FIRST FINANCIAL SB

Location

DES MOINES, IA

Failure date

1988-12-28

FDIC resolution date

1988-12-28

Charter type

SL

Resolution type

A/A

FDIC DIF cost (est.)

$86M

Deposits at failure

$211M

Assets at failure

$263M

Acquiring bank

METROPOLITAN FEDERAL BANK O (MASON CITY, IA)