# CITIZENS S & LA OF SPRINGFIELD

> **Failed bank** · SPRINGFIELD, IL · failed 1989-09-07 · SL · FDIC cost $0M

## What happened

CITIZENS S & LA OF SPRINGFIELD of SPRINGFIELD, IL was closed by state regulators 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
- **Estimated FDIC DIF cost:** $0M
- **Deposits at failure:** $78M
- **Assets at failure:** $89M
- **Acquiring bank:** MAGNA BANK OF SPRINGFIELD (SPRINGFIELD, IL)

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=CITIZENS%20S%20%26%20LA%20OF%20SPRINGFIELD

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, CITIZENS S & LA OF SPRINGFIELD (FDIC ID 2503), failed 1989-09-07. Retrieved via AI Analytics 2026-07-08 from https://api.ai-analytics.org/failed-bank/2503.

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