FDIC Open-Bank Assistance
Republic Savings Bank
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Assistance provided October 1, 1986 · South Beloit, IL · FDIC Cert #31384.
- Assistance date
- October 1, 1986
- Headquarters
- South Beloit, IL
- FDIC Certificate
- 31384
- Total assets at the time
- $56.8M
- Total deposits at the time
- $60.3M
- Estimated loss to the insurance fund
- $20.3M
- Insurance fund
- Federal Savings and Loan Insurance Corporation (FSLIC)
- Resolution
- Open-bank assistance (the institution stayed open)
- Acquirer
- River Valley Savings Bank
Context
On October 1, 1986, the FDIC provided open-bank assistance to Republic Savings Bank, headquartered in South Beloit, IL. The institution continued operating. At the time it held approximately $56.8M in assets and $60.3M in deposits. The FDIC record names River Valley Savings Bank as the acquiring institution in the assisted transaction. The estimated cost to the Federal Savings and Loan Insurance Corporation (FSLIC) was approximately $20.3M.
The FDIC record for 1986 holds 162 failures and 42 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, in nominal dollars, and can differ from the balance on the closing day.
Common questions
When did the FDIC provide assistance to Republic Savings Bank?
Republic Savings Bank received FDIC open-bank assistance on October 1, 1986; it did not fail.
How big was Republic Savings Bank at the time of assistance?
Republic Savings Bank had approximately $56.8M in total assets and $60.3M in deposits at the time of assistance.
Bank 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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