FDIC Open-Bank Assistance
Lyons Federal Trust & Savings
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Assistance provided September 24, 1987 · Countryside, IL · FDIC Cert #29296.
- Assistance date
- September 24, 1987
- Headquarters
- Countryside, IL
- FDIC Certificate
- 29296
- Total assets at the time
- $2.28B
- Total deposits at the time
- $1.54B
- Estimated loss to the insurance fund
- $561.6M
- Insurance fund
- Federal Savings and Loan Insurance Corporation (FSLIC)
- Resolution
- Open-bank assistance (the institution stayed open)
- Acquirer
- Superior Bank, FSB
Context
On September 24, 1987, the FDIC provided open-bank assistance to Lyons Federal Trust & Savings, headquartered in Countryside, IL. The institution continued operating. At the time it held approximately $2.28B in assets and $1.54B in deposits. The FDIC record names Superior Bank, FSB as the acquiring institution in the assisted transaction. The estimated cost to the Federal Savings and Loan Insurance Corporation (FSLIC) was approximately $561.6M.
The FDIC record for 1987 holds 217 failures and 45 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 Lyons Federal Trust & Savings?
Lyons Federal Trust & Savings received FDIC open-bank assistance on September 24, 1987; it did not fail.
How big was Lyons Federal Trust & Savings at the time of assistance?
Lyons Federal Trust & Savings had approximately $2.28B in total assets and $1.54B in deposits at the time of assistance.
Bank failures in 1987
| Date | Bank | Assets |
|---|---|---|
| Dec 18, 1987 | First State Bank at Shoshoni | $4.6M |
| Dec 17, 1987 | Usbank | $86.0M |
| Dec 17, 1987 | Bank of Mabank | $43.8M |
| Dec 17, 1987 | American Bank of Commerce | $35.5M |
| Dec 11, 1987 | First Interstate Bank of Alaska | $367.7M |
| Dec 11, 1987 | Lewis and Clark State Bank | $20.3M |
| Dec 10, 1987 | Heritage National Bank | $53.2M |
| Dec 10, 1987 | Bancfirst-Austin, N.A. | $25.3M |
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