SOUTHWEST S & LA Failed 1989
What happened
SOUTHWEST S & LA of PHOENIX, AZ was closed on 1989-02-17. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to SECURITY PACIFIC BANK AZ (PHOENIX, AZ). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2121
- FDIC Certificate
- 30608
- FDIC FIN
- 7367
- Bank name
- SOUTHWEST S & LA
- Location
- PHOENIX, AZ
- Failure date
- 1989-02-17
- FDIC resolution date
- 1991-07-19
- Charter type
- SL
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $723M
- Deposits at failure
- $1,756M
- Assets at failure
- $2,265M
- Acquiring bank
- SECURITY PACIFIC BANK AZ (PHOENIX, AZ)