WESTWOOD S & L ASSOC. Failed 1989
What happened
WESTWOOD S & L ASSOC. of LOS ANGELES, CA was closed on 1989-02-17. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to FIDELITY FB, FSB (GLENDALE, CA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2127
- FDIC Certificate
- 31927
- FDIC FIN
- 7149
- Bank name
- WESTWOOD S & L ASSOC.
- Location
- LOS ANGELES, CA
- Failure date
- 1989-02-17
- FDIC resolution date
- 1990-08-24
- Charter type
- SL
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $237M
- Deposits at failure
- $397M
- Assets at failure
- $328M
- Acquiring bank
- FIDELITY FB, FSB (GLENDALE, CA)
- FDIC comments
- FSLIC-RTC Duplicate Failures
Other banks FIDELITY FB, FSB acquired in FDIC resolutions