# SOUTHWEST FEDERAL SAVINGS ASSOC.

> **Failed bank** · LOS ANGELES, CA · failed 1989-04-27 · SL · FDIC cost $75M

## What happened

SOUTHWEST FEDERAL SAVINGS ASSOC. of LOS ANGELES, CA was closed by state regulators on **1989-04-27**. The FDIC was named receiver.

**Resolution:** Purchase & Assumption — acquiring bank assumed deposits + bought assets

Deposits were transferred to **BANK OF AMERICA, NA** (SAN FRANCISCO, CA). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 2363
- **FDIC Certificate:** 30262
- **FDIC FIN:** 7229
- **Bank name:** SOUTHWEST FEDERAL SAVINGS ASSOC.
- **Location:** LOS ANGELES, CA
- **Failure date:** 1989-04-27
- **FDIC resolution date:** 1990-11-16
- **Charter type:** SL
- **Resolution type:** Purchase & Assumption — acquiring bank assumed deposits + bought assets
- **Estimated FDIC DIF cost:** $75M
- **Deposits at failure:** $792M
- **Assets at failure:** $897M
- **Acquiring bank:** BANK OF AMERICA, NA (SAN FRANCISCO, CA)

## Primary source

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

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, SOUTHWEST FEDERAL SAVINGS ASSOC. (FDIC ID 2363), failed 1989-04-27. Retrieved via AI Analytics 2026-05-17 from https://api.ai-analytics.org/failed-bank/2363.

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