# CHARTER SAVINGS BANK

> **Failed bank** · NEWPORT, CA · failed 1990-06-15 · SL · FDIC cost $10M

## What happened

CHARTER SAVINGS BANK of NEWPORT, CA was closed by state regulators 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
- **Estimated FDIC DIF cost:** $10M
- **Deposits at failure:** $280M
- **Assets at failure:** $314M
- **Acquiring bank:** PACIFIC HERITAGE BANK (TORRANCE, CA)

## Primary source

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

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, CHARTER SAVINGS BANK (FDIC ID 2818), failed 1990-06-15. Retrieved via AI Analytics 2026-05-20 from https://api.ai-analytics.org/failed-bank/2818.

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