COLONIAL THRIFT & LOAN ASSOCIATION Failed 1988

CULVER CITY, CA · State commercial bank, non-Federal Reserve member (FDIC-supervised) · view on FDIC BankFind ↗

What happened

COLONIAL THRIFT & LOAN ASSOCIATION of CULVER CITY, CA was closed on 1988-04-15. The FDIC was named receiver.

Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets

Deposits were transferred to SOUTHERN PACIFIC TH&L AS (BEVERLY HILLS, CA). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
1669
FDIC Certificate
26701
FDIC FIN
2806
Bank name
COLONIAL THRIFT & LOAN ASSOCIATION
Location
CULVER CITY, CA
Failure date
1988-04-15
FDIC resolution date
1988-04-15
Charter type
State commercial bank, non-Federal Reserve member (FDIC-supervised)
Resolution type
Purchase & Assumption — acquiring bank assumed deposits + bought assets
FDIC DIF cost (est.)
$5M
Deposits at failure
$24M
Assets at failure
$27M
Acquiring bank
SOUTHERN PACIFIC TH&L AS (BEVERLY HILLS, CA)