FDIC Open-Bank Assistance
First Calumet City Savings
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Assistance provided June 4, 1980 · Berwyn, IL · FDIC Cert #30015.
- Assistance date
- June 4, 1980
- Headquarters
- Berwyn, IL
- FDIC Certificate
- 30015
- Total assets at the time
- $102.1M
- Total deposits at the time
- $82.4M
- Estimated loss to the insurance fund
- $14.6M
- Insurance fund
- Federal Savings and Loan Insurance Corporation (FSLIC)
- Resolution
- Open-bank assistance (the institution stayed open)
- Acquirer
- Household Bank FSB
Context
On June 4, 1980, the FDIC provided open-bank assistance to First Calumet City Savings, headquartered in Berwyn, IL. The institution continued operating. At the time it held approximately $102.1M in assets and $82.4M in deposits. The FDIC record names Household Bank FSB as the acquiring institution in the assisted transaction. The estimated cost to the Federal Savings and Loan Insurance Corporation (FSLIC) was approximately $14.6M.
The FDIC record for 1980 holds 10 failures and 12 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 First Calumet City Savings?
First Calumet City Savings received FDIC open-bank assistance on June 4, 1980; it did not fail.
How big was First Calumet City Savings at the time of assistance?
First Calumet City Savings had approximately $102.1M in total assets and $82.4M in deposits at the time of assistance.
Bank failures in 1980
| Date | Bank | Assets |
|---|---|---|
| Dec 31, 1980 | East Gadsden Bank | $44.0M |
| Nov 21, 1980 | Citizens State BK of Galena | $10.3M |
| Oct 11, 1980 | The Rochelle BK & TR Co. | $8.4M |
| Sep 12, 1980 | The Metro BK of Huntington, Inc. | $27.0M |
| Aug 8, 1980 | The Mission State BK & TR Co. | $86.4M |
| Jun 28, 1980 | City & County BK of Campbell CTY | $39.8M |
| Jun 4, 1980 | The Citizens State Bank | $2.0M |
| Feb 16, 1980 | Mohawk BK & TR Co. | $5.9M |
Explore: all failures · IL bank events · 1980 events · events hub