# AMERICAN SECURITY FS & LA

> **Failed bank** · CHICAGO, IL · failed 1989-03-16 · SL · FDIC cost $3M

## What happened

AMERICAN SECURITY FS & LA of CHICAGO, IL was closed by state regulators on **1989-03-16**. The FDIC was named receiver.

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

Deposits were transferred to **MARQUETTE NB** (CHICAGO, IL). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 2228
- **FDIC Certificate:** 27681
- **FDIC FIN:** 7075
- **Bank name:** AMERICAN SECURITY FS & LA
- **Location:** CHICAGO, IL
- **Failure date:** 1989-03-16
- **FDIC resolution date:** 1990-06-19
- **Charter type:** SL
- **Resolution type:** Purchase & Assumption — acquiring bank assumed deposits + bought assets
- **Estimated FDIC DIF cost:** $3M
- **Deposits at failure:** $50M
- **Assets at failure:** $67M
- **Acquiring bank:** MARQUETTE NB (CHICAGO, IL)

## Other banks MARQUETTE NB has acquired in FDIC resolutions

- SUMMIT FIRST S & LA (SUMMIT, IL) — failed 1990-07-13 — /failed-bank/2847

## Primary source

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

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, AMERICAN SECURITY FS & LA (FDIC ID 2228), failed 1989-03-16. Retrieved via AI Analytics 2026-05-18 from https://api.ai-analytics.org/failed-bank/2228.

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