FDIC Open-Bank Assistance

Fidelity S&L

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Assistance provided January 1, 1985 · Martins Ferry, OH · FDIC Cert #30066.

Assistance date: January 1, 1985
Headquarters: Martins Ferry, OH
FDIC Certificate: 30066
Total assets at the time: $72.5M
Total deposits at the time: $72.5M
Estimated loss to the insurance fund: Not published (the FDIC feed carries no estimate for this transaction)
Insurance fund: Federal Savings and Loan Insurance Corporation (FSLIC)
Resolution: Open-bank assistance (the institution stayed open)
Acquirer: Household Bank FSB

Context

On January 1, 1985, the FDIC provided open-bank assistance to Fidelity S&L, headquartered in Martins Ferry, OH. The institution continued operating. At the time it held approximately $72.5M in assets and $72.5M in deposits. The FDIC record names Household Bank FSB as the acquiring institution in the assisted transaction.

The FDIC record for 1985 holds 139 failures and 41 open-bank assistance transactions. 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 the FDIC provide assistance to Fidelity S&L?

Fidelity S&L received FDIC open-bank assistance on January 1, 1985; it did not fail.

How big was Fidelity S&L at the time of assistance?

Fidelity S&L had approximately $72.5M in total assets and $72.5M in deposits at the time of assistance.

Bank failures in 1985

Date	Bank	HQ	Assets
Dec 20, 1985	First City Bank	Glendale, CA	$35.8M
Dec 20, 1985	State Bank of Frost	Frost, MN	$7.7M
Dec 19, 1985	Princeton State Bank	Princeton, MO	$18.4M
Dec 19, 1985	Farmers State Bank	Sargent, NE	$12.5M
Dec 19, 1985	Bank of Panama	Panama, NE	$4.4M
Dec 19, 1985	Farmers & Merchants Bank	Comstock, NE	$3.3M
Dec 13, 1985	The First National Bank in Lincoln County	Ruidoso, NM	$32.0M
Dec 13, 1985	Lake National Bank	Lake Ozark, MO	$19.8M

All 1985 events ›

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