FOUNDERS FEDERAL S & L Failed 1989
What happened
FOUNDERS FEDERAL S & L of LOS ANGELES, CA was closed on 1989-04-06. The FDIC was named receiver.
Resolution: Insured Deposit Transfer — insured deposits transferred to another bank
Deposits were transferred to FOUNDERS NB OF LOS ANGELES (LOS ANGELES, CA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2333
- FDIC Certificate
- 31697
- FDIC FIN
- 7272
- Bank name
- FOUNDERS FEDERAL S & L
- Location
- LOS ANGELES, CA
- Failure date
- 1989-04-06
- FDIC resolution date
- 1991-01-18
- Charter type
- SL
- Resolution type
- Insured Deposit Transfer — insured deposits transferred to another bank
- FDIC DIF cost (est.)
- $78M
- Deposits at failure
- $167M
- Assets at failure
- $135M
- Acquiring bank
- FOUNDERS NB OF LOS ANGELES (LOS ANGELES, CA)