# SECURITY FED. SAVINGS ASSOCIATION

> **Failed bank** · GARDEN GROVE, CA · failed 1989-11-16 · SL · FDIC cost $0M

## What happened

SECURITY FED. SAVINGS ASSOCIATION of GARDEN GROVE, CA was closed by state regulators 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
- **Estimated FDIC DIF cost:** $0M
- **Deposits at failure:** $75M
- **Assets at failure:** $71M
- **Acquiring bank:** ITT FB, FSB (IRVINE, CA)

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=SECURITY%20FED.%20SAVINGS%20ASSOCIATION

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, SECURITY FED. SAVINGS ASSOCIATION (FDIC ID 2560), failed 1989-11-16. Retrieved via AI Analytics 2026-07-02 from https://api.ai-analytics.org/failed-bank/2560.

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*[FDIC failures dataset](/datasets/fdic-failures) · CC0 1.0*