CITY S & L ASSOC. Failed 1989

What happened

CITY S & L ASSOC. of WESTLAKE VILLAGE, 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 OLYMPIA NB (LOS ANGELES, CA). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

2343

FDIC Certificate

32197

FDIC FIN

6912

Bank name

CITY S & L ASSOC.

Location

WESTLAKE VILLAGE, CA

Failure date

1989-04-06

FDIC resolution date

1989-08-25

Charter type

SL

Resolution type

Insured Deposit Transfer — insured deposits transferred to another bank

FDIC DIF cost (est.)

$3M

Deposits at failure

$34M

Assets at failure

$33M

Acquiring bank

OLYMPIA NB (LOS ANGELES, CA)