TIME FS & LA Failed 1990
What happened
TIME FS & LA of SAN FRANCISCO, CA was closed on 1990-06-01. 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
- 2798
- FDIC Certificate
- 31671
- FDIC FIN
- 7292
- Bank name
- TIME FS & LA
- Location
- SAN FRANCISCO, CA
- Failure date
- 1990-06-01
- FDIC resolution date
- 1991-05-17
- Charter type
- SL
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $3M
- Deposits at failure
- $54M
- Assets at failure
- $58M
- Acquiring bank
- SUN SB, FSB (LOS ANGELES, CA)
Other banks SUN SB, FSB acquired in FDIC resolutions