# AMERICAN SA OF MT. CARMEL

> **Failed bank** · MT. CARMEL, IL · failed 1990-08-10 · SL · FDIC cost $2M

## What happened

AMERICAN SA OF MT. CARMEL of MT. CARMEL, IL was closed by state regulators on **1990-08-10**. The FDIC was named receiver.

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

Deposits were transferred to **UNION FSB** (EVANSVILLE, IN). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 2871
- **FDIC Certificate:** 29826
- **FDIC FIN:** 7305
- **Bank name:** AMERICAN SA OF MT. CARMEL
- **Location:** MT. CARMEL, IL
- **Failure date:** 1990-08-10
- **FDIC resolution date:** 1991-06-07
- **Charter type:** SL
- **Resolution type:** Purchase & Assumption — acquiring bank assumed deposits + bought assets
- **Estimated FDIC DIF cost:** $2M
- **Deposits at failure:** $12M
- **Assets at failure:** $12M
- **Acquiring bank:** UNION FSB (EVANSVILLE, IN)

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=AMERICAN%20SA%20OF%20MT.%20CARMEL

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, AMERICAN SA OF MT. CARMEL (FDIC ID 2871), failed 1990-08-10. Retrieved via AI Analytics 2026-05-17 from https://api.ai-analytics.org/failed-bank/2871.

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