UNIVERSAL SAVINGS & LOAN Failed 1989
What happened
UNIVERSAL SAVINGS & LOAN of SCOTTSDALE, 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 FIRST ARIZONA S&LA (GLENDALE, AZ). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2131
- FDIC Certificate
- 32585
- FDIC FIN
- 6950
- Bank name
- UNIVERSAL SAVINGS & LOAN
- Location
- SCOTTSDALE, AZ
- Failure date
- 1989-02-17
- FDIC resolution date
- 1990-01-26
- Charter type
- SL
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $22M
- Deposits at failure
- $103M
- Assets at failure
- $93M
- Acquiring bank
- FIRST ARIZONA S&LA (GLENDALE, AZ)
- FDIC comments
- FSLIC-RTC Duplicate Failures