# FIRST SAVINGS OF ZION

> **Failed bank** · ZION, IL · failed 1991-04-05 · SL · FDIC cost $6M

## What happened

FIRST SAVINGS OF ZION of ZION, IL was closed by state regulators on **1991-04-05**. The FDIC was named receiver.

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

Deposits were transferred to **ADVANTAGE BANK** (KENOSHA, WI). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 3062
- **FDIC Certificate:** 30361
- **FDIC FIN:** 2144
- **Bank name:** FIRST SAVINGS OF ZION
- **Location:** ZION, IL
- **Failure date:** 1991-04-05
- **FDIC resolution date:** 1991-11-01
- **Charter type:** SL
- **Resolution type:** Purchase & Assumption — acquiring bank assumed deposits + bought assets
- **Estimated FDIC DIF cost:** $6M
- **Deposits at failure:** $61M
- **Assets at failure:** $63M
- **Acquiring bank:** ADVANTAGE BANK (KENOSHA, WI)

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=FIRST%20SAVINGS%20OF%20ZION

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, FIRST SAVINGS OF ZION (FDIC ID 3062), failed 1991-04-05. Retrieved via AI Analytics 2026-07-01 from https://api.ai-analytics.org/failed-bank/3062.

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