# FIRST FS&LA OF FREEPORT

> **Failed bank** · FREEPORT, IL · failed 1985-05-28 · SL · FDIC cost $14M

## What happened

FIRST FS&LA OF FREEPORT of FREEPORT, IL was closed by state regulators on **1985-05-28**. The FDIC was named receiver.

**Resolution:** A/A

Deposits were transferred to **HOME FS&LA OF ROCKFORD** (ROCKFORD, IL). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 996
- **FDIC Certificate:** 29052
- **FDIC FIN:** 1721
- **Bank name:** FIRST FS&LA OF FREEPORT
- **Location:** FREEPORT, IL
- **Failure date:** 1985-05-28
- **FDIC resolution date:** 1988-01-27
- **Charter type:** SL
- **Resolution type:** A/A
- **Estimated FDIC DIF cost:** $14M
- **Deposits at failure:** $46M
- **Assets at failure:** $63M
- **Acquiring bank:** HOME FS&LA OF ROCKFORD (ROCKFORD, IL)

## Other banks HOME FS&LA OF ROCKFORD has acquired in FDIC resolutions

- LOVES PARK FSB (LOVES PARK, IL) — failed 1988-09-21 — /failed-bank/1929

## Primary source

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

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, FIRST FS&LA OF FREEPORT (FDIC ID 996), failed 1985-05-28. Retrieved via AI Analytics 2026-05-17 from https://api.ai-analytics.org/failed-bank/996.

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