WESTERN SAVINGS & LOAN Failed 1989
What happened
WESTERN SAVINGS & LOAN of PHOENIX, AZ was closed on 1989-06-14. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to BANK OF AMERICA, AZ (PHOENIX, AZ). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2387
- FDIC Certificate
- 28597
- FDIC FIN
- 7032
- Bank name
- WESTERN SAVINGS & LOAN
- Location
- PHOENIX, AZ
- Failure date
- 1989-06-14
- FDIC resolution date
- 1990-05-31
- Charter type
- SL
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $2,077M
- Deposits at failure
- $4,131M
- Assets at failure
- $5,655M
- Acquiring bank
- BANK OF AMERICA, AZ (PHOENIX, AZ)
Other banks BANK OF AMERICA, AZ acquired in FDIC resolutions