CHARTER SAVINGS BANK Failed 1990
What happened
CHARTER SAVINGS BANK of NEWPORT, CA was closed on 1990-06-15. The FDIC was named receiver.
Resolution: Insured Deposit Transfer — insured deposits transferred to another bank
Deposits were transferred to PACIFIC HERITAGE BANK (TORRANCE, CA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2818
- FDIC Certificate
- 31924
- FDIC FIN
- 7251
- Bank name
- CHARTER SAVINGS BANK
- Location
- NEWPORT, CA
- Failure date
- 1990-06-15
- FDIC resolution date
- 1990-12-07
- Charter type
- SL
- Resolution type
- Insured Deposit Transfer — insured deposits transferred to another bank
- FDIC DIF cost (est.)
- $10M
- Deposits at failure
- $280M
- Assets at failure
- $314M
- Acquiring bank
- PACIFIC HERITAGE BANK (TORRANCE, CA)