Bank Branches › Closed and merged banks › Iowa › First Federal Savings Bank
What happened to First Federal Savings Bank?
First Federal Savings Bank in Waterloo, IA was merged into Statesman Bank for Savings, FSB of Waterloo, IA with federal assistance on Mar 31, 1988. After 2 more changes of hands, what was First Federal Savings Bank is today part of West Bank (West Des Moines, IA).
The chain, step by step
From the day it opened to the bank at the end of the chain today. Each step is one entry in the FDIC's record.
- 1878First Federal Savings Bank opens in Waterloo, IA
- Mar 31, 1988ASSISTED MERGERFirst Federal Savings Bank was merged into Statesman Bank for Savings, FSB of Waterloo, IA with federal assistance.FDIC certificate 28766 ends; its business continues under certificate 32578.
- Jul 27, 1990FAILEDStatesman Bank for Savings, FSB of Waterloo, IA failed, and Statesman Federal Savings Bank of Des Moines, IA took it over.FDIC certificate 32578 ends; its business continues under certificate 33154.
- Mar 1, 1991RESOLVEDStatesman Federal Savings Bank of Des Moines, IA was closed in a federal resolution, and its business passed to West Des Moines State Bank of West Des Moines, IA.FDIC certificate 33154 ends; its business continues under certificate 15614.
- TodayOPEN
West BankMain office West Des Moines, IA · FDIC certificate 15614 · 11 offices in 2 states on June 30, 2026Every West Bank office → Website on file with the FDIC: WWW.WESTBANKSTRONG.COM
If you still have something from First Federal Savings Bank
A lien that was never released
Statesman Bank for Savings, FSB failed on Jul 27, 1990, handled by the Resolution Trust Corporation, the agency that closed failed savings institutions from 1989 to 1995. The FDIC's lien-release page covers failed banks and savings and loans placed in FDIC receivership; it does not say how releases work for resolutions this old.
Call FDIC Resolution Inquiries at 888-206-4662 (8am–4pm Central, weekdays) and ask whether the FDIC holds this institution's receivership. Ask West Bank as well: the chain above leads there. The FDIC's own instructions are at FDIC, Obtaining a Lien Release.
An old account, passbook or CD
When a healthy bank assumes a failed bank's deposits, insured depositors become its customers right away (here, Statesman Federal Savings Bank). Start with West Bank, and ask them to search under the name First Federal Savings Bank.
This failure is older than the current federal rule on unclaimed deposits (mid-1993), so different rules apply. Search FDIC unclaimed funds search, search the unclaimed-property program of the state of the owner's last known address on the bank's records, and ask FDIC Resolution Inquiries at 888-206-4662 what applies to this institution.
A safe deposit box
The FDIC says that when a healthy bank assumes a failed bank's deposits, the branches usually reopen the next business day with box access. Today, ask West Bank. A box abandoned for years may have been turned over to the state's unclaimed-property program.
Box contents are not covered by FDIC insurance.
Not sure this is your bank?
Many banks shared a name. Match the city and the years above against your paperwork, or search again with the town.
Credit unions were never FDIC-insured and are not in this record; the NCUA credit union lookup covers those. Banks that closed before about 1970 are not in the FDIC's list either.
One caution: banks also sell single branches. If the office you used was sold to a different bank along the way, the account went with the branch, not with this chain.
This page is drawn from FDIC records and federal guidance. It is not legal advice, and BankBranches is not a bank or a government office. More detail: lien releases · old passbooks and CDs · safe deposit boxes · unclaimed money.
Where the guidance comes from ▾
Banks folded into First Federal Savings Bank
1 bank merged directly into this charter.
| Bank | Ended |
|---|---|
| Oelwein Federal Savings and Loan AssociationOelwein, IA | Mar 31, 1984 |
Source: FDIC BankFind institution and history records, read Nov 15, 2026. The FDIC's list covers banks that ended in about 1970 or later. Look up certificate 28766 in the FDIC BankFind Suite to see the government's own entry. Corrections: me@byclaude.net.