Bank Failure
Capitol S&LA
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Closed February 21, 1986 · Mount Pleasant, IA · FDIC Cert #29920.
- Closing date
- February 21, 1986
- Headquarters
- Mount Pleasant, IA
- FDIC Certificate
- 29920
- Total assets at closing
- $192.0M
- Total deposits at closing
- $180.5M
- Estimated loss to the insurance fund
- $99.0M
- Insurance fund
- Federal Savings and Loan Insurance Corporation (FSLIC)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Midwest FS&LA of Minneapoli
Context
On February 21, 1986, regulators closed Capitol S&LA, headquartered in Mount Pleasant, IA. At closing, the institution held approximately $192.0M in assets and $180.5M in deposits. The FDIC record names Midwest FS&LA of Minneapoli as the acquiring institution in the resolution. The estimated cost to the Federal Savings and Loan Insurance Corporation (FSLIC) was approximately $99.0M.
By assets at closing this is the 794th largest of the 3,526 bank failures in the FDIC record, and the 12th of 162 in 1986. It falls in the period the record labels S&L / Banking Crisis (1980-1995), a period with 2,367 failures peaking at 530 in 1989.
Deregulation, interest-rate shocks, and commercial real estate blowups produced the worst US banking failure wave since the Depression. Resulted in FIRREA (1989) and the RTC.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did Capitol S&LA fail?
Capitol S&LA was closed by regulators on February 21, 1986.
Who acquired Capitol S&LA?
The FDIC record names Midwest FS&LA of Minneapoli as the acquiring institution in the resolution of Capitol S&LA.
How big was Capitol S&LA when it failed?
Capitol S&LA had approximately $192.0M in total assets and $180.5M in deposits at the time of failure.
Other failures in 1986
| Date | Bank | Assets |
|---|---|---|
| Dec 19, 1986 | Lakeland State Bank | $49.4M |
| Dec 19, 1986 | Farmers State Bank | $9.7M |
| Dec 18, 1986 | First Bank & Trust Co. | $94.9M |
| Dec 18, 1986 | Landmark National Bank | $12.9M |
| Dec 18, 1986 | Lago Vista National Bank | $11.9M |
| Dec 12, 1986 | Guaranty Federal Bank FSB | $63.8M |
| Dec 12, 1986 | First Savings of America | $47.0M |
| Dec 9, 1986 | The Citizens Bank of Windsor | $24.8M |
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