# SIERRA S & L ASSOC.

> **Failed bank** · BEVERLY HILLS, CA · failed 1989-07-20 · SL · FDIC cost $11M

## What happened

SIERRA S & L ASSOC. of BEVERLY HILLS, CA was closed by state regulators on **1989-07-20**. The FDIC was named receiver.

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

Deposits were transferred to **SUN SB, FSB** (LOS ANGELES, CA). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 2448
- **FDIC Certificate:** 32428
- **FDIC FIN:** 6988
- **Bank name:** SIERRA S & L ASSOC.
- **Location:** BEVERLY HILLS, CA
- **Failure date:** 1989-07-20
- **FDIC resolution date:** 1990-05-04
- **Charter type:** SL
- **Resolution type:** Purchase & Assumption — acquiring bank assumed deposits + bought assets
- **Estimated FDIC DIF cost:** $11M
- **Deposits at failure:** $40M
- **Assets at failure:** $41M
- **Acquiring bank:** SUN SB, FSB (LOS ANGELES, CA)

## Other banks SUN SB, FSB has acquired in FDIC resolutions

- TIME FS & LA (SAN FRANCISCO, CA) — failed 1990-06-01 — /failed-bank/2798

## Primary source

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

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, SIERRA S & L ASSOC. (FDIC ID 2448), failed 1989-07-20. Retrieved via AI Analytics 2026-06-26 from https://api.ai-analytics.org/failed-bank/2448.

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