# SOUTHWEST S & LA

> **Failed bank** · PHOENIX, AZ · failed 1989-02-17 · SL · FDIC cost $723M

## What happened

SOUTHWEST S & LA of PHOENIX, AZ was closed by state regulators 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
- **Estimated FDIC DIF cost:** $723M
- **Deposits at failure:** $1,756M
- **Assets at failure:** $2,265M
- **Acquiring bank:** SECURITY PACIFIC BANK AZ (PHOENIX, AZ)

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=SOUTHWEST%20S%20%26%20LA

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, SOUTHWEST S & LA (FDIC ID 2121), failed 1989-02-17. Retrieved via AI Analytics 2026-05-18 from https://api.ai-analytics.org/failed-bank/2121.

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*[FDIC failures dataset](/datasets/fdic-failures) · CC0 1.0*