# FIDELITY FEDERAL SAVINGS ASSOC.

> **Failed bank** · GALESBURG, IL · failed 1989-11-09 · SL · FDIC cost $47M

## What happened

FIDELITY FEDERAL SAVINGS ASSOC. of GALESBURG, IL was closed by state regulators on **1989-11-09**. The FDIC was named receiver.

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

Deposits were transferred to **FIRST BANK, A SB** (CLAYTON, MO). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 2550
- **FDIC Certificate:** 27821
- **FDIC FIN:** 7224
- **Bank name:** FIDELITY FEDERAL SAVINGS ASSOC.
- **Location:** GALESBURG, IL
- **Failure date:** 1989-11-09
- **FDIC resolution date:** 1990-11-16
- **Charter type:** SL
- **Resolution type:** Purchase & Assumption — acquiring bank assumed deposits + bought assets
- **Estimated FDIC DIF cost:** $47M
- **Deposits at failure:** $362M
- **Assets at failure:** $394M
- **Acquiring bank:** FIRST BANK, A SB (CLAYTON, MO)

## Primary source

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

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, FIDELITY FEDERAL SAVINGS ASSOC. (FDIC ID 2550), failed 1989-11-09. Retrieved via AI Analytics 2026-06-30 from https://api.ai-analytics.org/failed-bank/2550.

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