BEACH FEDERAL SAVINGS ASSOC. Failed 1991
What happened
BEACH FEDERAL SAVINGS ASSOC. of FOUNTAIN VALLEY, CA was closed on 1991-01-18. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to QUEEN CITY BANK, NA (LONG BEACH, CA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2994
- FDIC Certificate
- 32332
- FDIC FIN
- 7358
- Bank name
- BEACH FEDERAL SAVINGS ASSOC.
- Location
- FOUNTAIN VALLEY, CA
- Failure date
- 1991-01-18
- FDIC resolution date
- 1991-07-19
- Charter type
- SL
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $0M
- Deposits at failure
- $81M
- Assets at failure
- $82M
- Acquiring bank
- QUEEN CITY BANK, NA (LONG BEACH, CA)