DESERET S & L ASSOC. Failed 1989
What happened
DESERET S & L ASSOC. of SALT LAKE CITY, UT was closed on 1989-02-10. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to ZIONS FIRST NB (SALT LAKE CITY, UT). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2093
- FDIC Certificate
- 28553
- FDIC FIN
- 7028
- Bank name
- DESERET S & L ASSOC.
- Location
- SALT LAKE CITY, UT
- Failure date
- 1989-02-10
- FDIC resolution date
- 1990-05-25
- Charter type
- SL
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $88M
- Deposits at failure
- $178M
- Assets at failure
- $159M
- Acquiring bank
- ZIONS FIRST NB (SALT LAKE CITY, UT)
Other banks ZIONS FIRST NB acquired in FDIC resolutions