GIBRALTAR SAVINGS, FA Failed 1989
What happened
GIBRALTAR SAVINGS, FA of SIMI VALLEY, CA was closed on 1989-03-31. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to SECURITY PACIFIC NB, NA (LOS ANGELES, CA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2311
- FDIC Certificate
- 31629
- FDIC FIN
- 7119
- Bank name
- GIBRALTAR SAVINGS, FA
- Location
- SIMI VALLEY, CA
- Failure date
- 1989-03-31
- FDIC resolution date
- 1990-06-29
- Charter type
- SL
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $95M
- Deposits at failure
- $7,575M
- Assets at failure
- $13,382M
- Acquiring bank
- SECURITY PACIFIC NB, NA (LOS ANGELES, CA)
Other banks SECURITY PACIFIC NB, NA acquired in FDIC resolutions