# FIRST FS&LA OF CHICAGO

> **Failed bank** · GALENA, IL · failed 1982-04-03 · SL · FDIC cost $635M

## What happened

FIRST FS&LA OF CHICAGO of GALENA, IL was closed by state regulators on **1982-04-03**. The FDIC was named receiver.

**Resolution:** A/A

Deposits were transferred to **CITICORP SAVINGS OF ILLINOI** (CHICAGO, IL). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 659
- **FDIC Certificate:** 28820
- **FDIC FIN:** 1652
- **Bank name:** FIRST FS&LA OF CHICAGO
- **Location:** GALENA, IL
- **Failure date:** 1982-04-03
- **FDIC resolution date:** 1984-03-01
- **Charter type:** SL
- **Resolution type:** A/A
- **Estimated FDIC DIF cost:** $635M
- **Deposits at failure:** $2,840M
- **Assets at failure:** $3,535M
- **Acquiring bank:** CITICORP SAVINGS OF ILLINOI (CHICAGO, IL)
- **FDIC comments:** FSLIC Assisted Merger - SIMS to be updated to show failure

## Other banks CITICORP SAVINGS OF ILLINOI has acquired in FDIC resolutions

- GLEN ELLYN  S&LA (GLEN ELLYN, IL) — failed 1985-09-20 — /failed-bank/1070

## Primary source

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

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, FIRST FS&LA OF CHICAGO (FDIC ID 659), failed 1982-04-03. Retrieved via AI Analytics 2026-05-17 from https://api.ai-analytics.org/failed-bank/659.

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