# FIRST FED. SAVINGS BANK

> **Failed bank** · EAST ALTON, IL · failed 1989-04-06 · SL · FDIC cost $7M

## What happened

FIRST FED. SAVINGS BANK of EAST ALTON, IL was closed by state regulators on **1989-04-06**. The FDIC was named receiver.

**Resolution:** Insured Deposit Transfer — insured deposits transferred to another bank

Deposits were transferred to **ILLINOIS STATE B&T** (EAST ALTON, IL). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 2320
- **FDIC Certificate:** 28228
- **FDIC FIN:** 6980
- **Bank name:** FIRST FED. SAVINGS BANK
- **Location:** EAST ALTON, IL
- **Failure date:** 1989-04-06
- **FDIC resolution date:** 1990-05-04
- **Charter type:** SL
- **Resolution type:** Insured Deposit Transfer — insured deposits transferred to another bank
- **Estimated FDIC DIF cost:** $7M
- **Deposits at failure:** $56M
- **Assets at failure:** $56M
- **Acquiring bank:** ILLINOIS STATE B&T (EAST ALTON, IL)

## Primary source

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

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, FIRST FED. SAVINGS BANK (FDIC ID 2320), failed 1989-04-06. Retrieved via AI Analytics 2026-06-25 from https://api.ai-analytics.org/failed-bank/2320.

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