AMERICAN S & LA Failed 1989
What happened
AMERICAN S & LA of SALT LAKE CITY, UT was closed on 1989-02-17. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to PACIFIC FIRST FSB (SEATTLE, WA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2110
- FDIC Certificate
- 28582
- FDIC FIN
- 7054
- Bank name
- AMERICAN S & LA
- Location
- SALT LAKE CITY, UT
- Failure date
- 1989-02-17
- FDIC resolution date
- 1990-06-08
- Charter type
- SL
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $152M
- Deposits at failure
- $1,390M
- Assets at failure
- $2,181M
- Acquiring bank
- PACIFIC FIRST FSB (SEATTLE, WA)