CITIZENS S & LA OF SPRINGFIELD Failed 1989
What happened
CITIZENS S & LA OF SPRINGFIELD of SPRINGFIELD, IL was closed on 1989-09-07. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to MAGNA BANK OF SPRINGFIELD (SPRINGFIELD, IL). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2503
- FDIC Certificate
- 28107
- FDIC FIN
- 7085
- Bank name
- CITIZENS S & LA OF SPRINGFIELD
- Location
- SPRINGFIELD, IL
- Failure date
- 1989-09-07
- FDIC resolution date
- 1990-06-22
- Charter type
- SL
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $0M
- Deposits at failure
- $78M
- Assets at failure
- $89M
- Acquiring bank
- MAGNA BANK OF SPRINGFIELD (SPRINGFIELD, IL)