FIRST FED. S & L ASSOC. Failed 1989
What happened
FIRST FED. S & L ASSOC. of BAKERSFIELD, CA was closed on 1989-06-29. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to BANK OF AMERICA NTSA (SAN FRANCISCO, CA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2399
- FDIC Certificate
- 28119
- FDIC FIN
- 6971
- Bank name
- FIRST FED. S & L ASSOC.
- Location
- BAKERSFIELD, CA
- Failure date
- 1989-06-29
- FDIC resolution date
- 1990-04-27
- Charter type
- SL
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $11M
- Deposits at failure
- $127M
- Assets at failure
- $126M
- Acquiring bank
- BANK OF AMERICA NTSA (SAN FRANCISCO, CA)
Other banks BANK OF AMERICA NTSA acquired in FDIC resolutions