# CABRILLO FEDERAL SAVINGS BANK

> **Failed bank** · SAN JOSE, CA · failed 1989-04-06 · SL · FDIC cost $2M

## What happened

CABRILLO FEDERAL SAVINGS BANK of SAN JOSE, CA was closed by state regulators 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
- **Estimated FDIC DIF cost:** $2M
- **Deposits at failure:** $62M
- **Assets at failure:** $72M
- **Acquiring bank:** FINANCIAL CENTER BANK, NA (SAN FRANCISCO, CA)

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=CABRILLO%20FEDERAL%20SAVINGS%20BANK

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, CABRILLO FEDERAL SAVINGS BANK (FDIC ID 2342), failed 1989-04-06. Retrieved via AI Analytics 2026-06-30 from https://api.ai-analytics.org/failed-bank/2342.

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*[FDIC failures dataset](/datasets/fdic-failures) · CC0 1.0*