# WESTERN SAVINGS & LOAN

> **Failed bank** · PHOENIX, AZ · failed 1989-06-14 · SL · FDIC cost $2,077M

## What happened

WESTERN SAVINGS & LOAN of PHOENIX, AZ was closed by state regulators 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
- **Estimated FDIC DIF cost:** $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 has acquired in FDIC resolutions

- PIMA S & LA (TUCSON, AZ) — failed 1990-03-02 — /failed-bank/2683
- SUN STATE SAVINGS & LOAN (PHOENIX, AZ) — failed 1989-06-14 — /failed-bank/2388

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=WESTERN%20SAVINGS%20%26%20LOAN

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, WESTERN SAVINGS & LOAN (FDIC ID 2387), failed 1989-06-14. Retrieved via AI Analytics 2026-05-20 from https://api.ai-analytics.org/failed-bank/2387.

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