CABRILLO FEDERAL SAVINGS BANK Failed 1989
What happened
CABRILLO FEDERAL SAVINGS BANK of SAN JOSE, 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 FINANCIAL CENTER BANK, NA (SAN FRANCISCO, CA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2342
- FDIC Certificate
- 32146
- FDIC FIN
- 7003
- Bank name
- CABRILLO FEDERAL SAVINGS BANK
- Location
- SAN JOSE, CA
- Failure date
- 1989-04-06
- FDIC resolution date
- 1990-05-11
- Charter type
- SL
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $2M
- Deposits at failure
- $62M
- Assets at failure
- $72M
- Acquiring bank
- FINANCIAL CENTER BANK, NA (SAN FRANCISCO, CA)