Bank Failure
PERPETUAL S&LA
Closed September 15, 1981 · RAPID CITY, SD · FDIC Cert #31506.
- Closing date
- September 15, 1981
- Headquarters
- RAPID CITY, SD
- FDIC Certificate
- 31506
- Total assets at closing
- $49,718,000
- Total deposits at closing
- $39,174,000
- Estimated loss to DIF
- $9,397,000
- Resolution type
- other
- Acquirer
- FIRST FS&LA OF RAPID CITY
Context
On September 15, 1981, regulators closed PERPETUAL S&LA, headquartered in RAPID CITY, SD. At closing, the institution held approximately $49,718,000 in assets and $39,174,000 in deposits. The FDIC arranged a resolution under which FIRST FS&LA OF RAPID CITY acquired the failed bank's operations. The estimated cost to the FDIC Deposit Insurance Fund was approximately $9,397,000.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Other failures in 1981
| Date | Bank | HQ | Assets |
|---|---|---|---|
| 1981-12-18 | UNION DIME SAVINGS BANK | NEW YORK, NY | $1,452,985,000 |
| 1981-12-17 | SOUTHERN FS&LA OF BROWARD COUNTY | POMPANO BEACH, FL | $615,444,000 |
| 1981-12-17 | HAMILTONIAN FS&LA | LADUE, MO | $239,540,000 |
| 1981-12-17 | SECURITY FS&LA OF SIKESTON | SIKESTON, MO | $84,464,000 |
| 1981-12-09 | BOCA RATON FS&LA | BOCA RATON, FL | $275,848,000 |
| 1981-12-09 | MOHAWK S&LA | NEWARK, NJ | $91,082,000 |
| 1981-12-05 | PALOS S&LA | PALOS HEIGHTS, IL | $97,999,000 |
| 1981-12-04 | CENTRAL SAVINGS BANK | NEW YORK, NY | $910,243,000 |
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