# FIRST FED. S & L ASSOC.

> **Failed bank** · BAKERSFIELD, CA · failed 1989-06-29 · SL · FDIC cost $11M

## What happened

FIRST FED. S & L ASSOC. of BAKERSFIELD, CA was closed by state regulators 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
- **Estimated FDIC DIF cost:** $11M
- **Deposits at failure:** $127M
- **Assets at failure:** $126M
- **Acquiring bank:** BANK OF AMERICA NTSA (SAN FRANCISCO, CA)

## Other banks BANK OF AMERICA NTSA has acquired in FDIC resolutions

- SANTA BARBARA S & L ASSOC. (SANTA BARBARA, CA) — failed 1990-04-27 — /failed-bank/2744
- THE GUARDIAN FED. S & L ASSOC. (BAKERSFIELD, CA) — failed 1989-06-29 — /failed-bank/2405

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=FIRST%20FED.%20S%20%26%20L%20ASSOC.

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, FIRST FED. S & L ASSOC. (FDIC ID 2399), failed 1989-06-29. Retrieved via AI Analytics 2026-05-18 from https://api.ai-analytics.org/failed-bank/2399.

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