# FIRST FS & LA OF CRESTON

> **Failed bank** · CRESTON, IA · failed 1991-05-10 · SL · FDIC cost $2M

## What happened

FIRST FS & LA OF CRESTON of CRESTON, IA was closed by state regulators on **1991-05-10**. The FDIC was named receiver.

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

Deposits were transferred to **FIRST FSB OF CRESTON** (CRESTON, IA). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 3097
- **FDIC Certificate:** 28885
- **FDIC FIN:** 2141
- **Bank name:** FIRST FS & LA OF CRESTON
- **Location:** CRESTON, IA
- **Failure date:** 1991-05-10
- **FDIC resolution date:** 1991-11-01
- **Charter type:** SL
- **Resolution type:** Purchase & Assumption — acquiring bank assumed deposits + bought assets
- **Estimated FDIC DIF cost:** $2M
- **Deposits at failure:** $68M
- **Assets at failure:** $67M
- **Acquiring bank:** FIRST FSB OF CRESTON (CRESTON, IA)

## Primary source

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

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, FIRST FS & LA OF CRESTON (FDIC ID 3097), failed 1991-05-10. Retrieved via AI Analytics 2026-05-17 from https://api.ai-analytics.org/failed-bank/3097.

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