GATEWAY FEDERAL SAVINGS BANK Failed 1989
What happened
GATEWAY FEDERAL SAVINGS BANK of OAKLAND, CA was closed on 1989-04-06. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to GATEWAY BANK, FSB (SAN FRANCISCO, CA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2339
- FDIC Certificate
- 32059
- FDIC FIN
- 7056
- Bank name
- GATEWAY FEDERAL SAVINGS BANK
- Location
- OAKLAND, CA
- Failure date
- 1989-04-06
- FDIC resolution date
- 1990-06-08
- Charter type
- SL
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $81M
- Deposits at failure
- $126M
- Assets at failure
- $73M
- Acquiring bank
- GATEWAY BANK, FSB (SAN FRANCISCO, CA)
- FDIC comments
- FSLIC-RTC Duplicate Failures