PENINSULA S & LA Failed 1990

What happened

PENINSULA S & LA of SOUTH SAN FRANCISCO, CA was closed on 1990-05-04. The FDIC was named receiver.

Resolution: Insured Deposit Transfer — insured deposits transferred to another bank

Deposits were transferred to WESTCAL NB (SAN MATEO, CA). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

2753

FDIC Certificate

31982

FDIC FIN

7100

Bank name

PENINSULA S & LA

Location

SOUTH SAN FRANCISCO, CA

Failure date

1990-05-04

FDIC resolution date

1990-06-22

Charter type

SL

Resolution type

Insured Deposit Transfer — insured deposits transferred to another bank

FDIC DIF cost (est.)

$1M

Deposits at failure

$46M

Assets at failure

$52M

Acquiring bank

WESTCAL NB (SAN MATEO, CA)