# COLONIAL THRIFT & LOAN ASSOCIATION

> **Failed bank** · CULVER CITY, CA · failed 1988-04-15 · State commercial bank, non-Federal Reserve member (FDIC-supervised) · FDIC cost $5M

## What happened

COLONIAL THRIFT & LOAN ASSOCIATION of CULVER CITY, CA was closed by regulators 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
- **Estimated FDIC DIF cost:** $5M
- **Deposits at failure:** $24M
- **Assets at failure:** $27M
- **Acquiring bank:** SOUTHERN PACIFIC TH&L AS (BEVERLY HILLS, CA)

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=COLONIAL%20THRIFT%20%26%20LOAN%20ASSOCIATION

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, COLONIAL THRIFT & LOAN ASSOCIATION (FDIC ID 1669), failed 1988-04-15. Retrieved via AI Analytics 2026-05-18 from https://api.ai-analytics.org/failed-bank/1669.

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