CONCORDIA FEDERAL BANK FOR SAVINGS Failed 1989
What happened
CONCORDIA FEDERAL BANK FOR SAVINGS of LANSING, IL was closed on 1989-02-17. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to ADVANCE FB FOR SAVINGS (LANSING, IL). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2114
- FDIC Certificate
- 29383
- FDIC FIN
- 7031
- Bank name
- CONCORDIA FEDERAL BANK FOR SAVINGS
- Location
- LANSING, IL
- Failure date
- 1989-02-17
- FDIC resolution date
- 1990-05-29
- Charter type
- Savings bank
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $63M
- Deposits at failure
- $424M
- Assets at failure
- $469M
- Acquiring bank
- ADVANCE FB FOR SAVINGS (LANSING, IL)