SECURITY FED. SAVINGS ASSOCIATION Failed 1989
What happened
SECURITY FED. SAVINGS ASSOCIATION of GARDEN GROVE, CA was closed on 1989-11-16. The FDIC was named receiver.
Resolution: Insured Deposit Transfer — insured deposits transferred to another bank
Deposits were transferred to ITT FB, FSB (IRVINE, CA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2560
- FDIC Certificate
- 30982
- FDIC FIN
- 6989
- Bank name
- SECURITY FED. SAVINGS ASSOCIATION
- Location
- GARDEN GROVE, CA
- Failure date
- 1989-11-16
- FDIC resolution date
- 1990-05-04
- Charter type
- SL
- Resolution type
- Insured Deposit Transfer — insured deposits transferred to another bank
- FDIC DIF cost (est.)
- $0M
- Deposits at failure
- $75M
- Assets at failure
- $71M
- Acquiring bank
- ITT FB, FSB (IRVINE, CA)