# PEOPLES SAVINGS ASSOC.

> **Failed bank** · ST. JOSEPH, MI · failed 1989-03-09 · SL · FDIC cost $0M

## What happened

PEOPLES SAVINGS ASSOC. of ST. JOSEPH, MI was closed by state regulators on **1989-03-09**. The FDIC was named receiver.

**Resolution:** Purchase & Assumption — acquiring bank assumed deposits + bought assets

Deposits were transferred to **PEOPLES SB** (ST. JOSEPH, MI). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 2177
- **FDIC Certificate:** 27812
- **FDIC FIN:** 6951
- **Bank name:** PEOPLES SAVINGS ASSOC.
- **Location:** ST. JOSEPH, MI
- **Failure date:** 1989-03-09
- **FDIC resolution date:** 1990-02-02
- **Charter type:** SL
- **Resolution type:** Purchase & Assumption — acquiring bank assumed deposits + bought assets
- **Estimated FDIC DIF cost:** $0M
- **Deposits at failure:** $109M
- **Assets at failure:** $107M
- **Acquiring bank:** PEOPLES SB (ST. JOSEPH, MI)

## Primary source

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

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, PEOPLES SAVINGS ASSOC. (FDIC ID 2177), failed 1989-03-09. Retrieved via AI Analytics 2026-05-18 from https://api.ai-analytics.org/failed-bank/2177.

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*[FDIC failures dataset](/datasets/fdic-failures) · CC0 1.0*