LINCOLN SAVINGS & LOAN Failed 1989
What happened
LINCOLN SAVINGS & LOAN of IRVINE, CA was closed on 1989-04-14. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to GREAT WESTERN BANK, FSB (BEVERLY HILLS, CA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2355
- FDIC Certificate
- 29642
- FDIC FIN
- 7283
- Bank name
- LINCOLN SAVINGS & LOAN
- Location
- IRVINE, CA
- Failure date
- 1989-04-14
- FDIC resolution date
- 1991-03-08
- Charter type
- SL
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $3,143M
- Deposits at failure
- $4,194M
- Assets at failure
- $4,857M
- Acquiring bank
- GREAT WESTERN BANK, FSB (BEVERLY HILLS, CA)
Other banks GREAT WESTERN BANK, FSB acquired in FDIC resolutions