# LAKELAND SAVINGS BANK FSB

> **Failed bank** · DETROIT LAKES, MN · failed 1990-03-16 · Savings bank · FDIC cost $25M

## What happened

LAKELAND SAVINGS BANK FSB of DETROIT LAKES, MN was closed by state regulators on **1990-03-16**. The FDIC was named receiver.

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

Deposits were transferred to **FIRST SECURITY STATE BANK** (SLEEPY EYE, MN). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 2702
- **FDIC Certificate:** 29137
- **FDIC FIN:** 7145
- **Bank name:** LAKELAND SAVINGS BANK FSB
- **Location:** DETROIT LAKES, MN
- **Failure date:** 1990-03-16
- **FDIC resolution date:** 1990-08-24
- **Charter type:** Savings bank
- **Resolution type:** Insured Deposit Transfer — insured deposits transferred to another bank
- **Estimated FDIC DIF cost:** $25M
- **Deposits at failure:** $81M
- **Assets at failure:** $80M
- **Acquiring bank:** FIRST SECURITY STATE BANK (SLEEPY EYE, MN)

## Primary source

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

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, LAKELAND SAVINGS BANK FSB (FDIC ID 2702), failed 1990-03-16. Retrieved via AI Analytics 2026-05-18 from https://api.ai-analytics.org/failed-bank/2702.

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