# AMERIFIRST FEDERAL SAVINGS

> **Failed bank** · MIAMI, FL · failed 1991-03-15 · Savings bank · FDIC cost $558M

## What happened

AMERIFIRST FEDERAL SAVINGS of MIAMI, FL was closed by state regulators on **1991-03-15**. The FDIC was named receiver.

**Resolution:** Purchase & Assumption — acquiring bank assumed deposits + bought assets

Deposits were transferred to **GREAT WESTERN BANK, FSB** (BEVERLY HILLS, CA). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 3040
- **FDIC Certificate:** 28683
- **FDIC FIN:** 2184
- **Bank name:** AMERIFIRST FEDERAL SAVINGS
- **Location:** MIAMI, FL
- **Failure date:** 1991-03-15
- **FDIC resolution date:** 1992-03-20
- **Charter type:** Savings bank
- **Resolution type:** Purchase & Assumption — acquiring bank assumed deposits + bought assets
- **Estimated FDIC DIF cost:** $558M
- **Deposits at failure:** $2,872M
- **Assets at failure:** $3,575M
- **Acquiring bank:** GREAT WESTERN BANK, FSB (BEVERLY HILLS, CA)

## Other banks GREAT WESTERN BANK, FSB has acquired in FDIC resolutions

- THE FIRST, FEDERAL ASSOCIATION (ORLANDO, FL) — failed 1991-10-11 — /failed-bank/3214
- PIONEER SAVINGS BANK, FSB (CLEARWATER, FL) — failed 1990-02-02 — /failed-bank/2644
- CENTRUST BANK, SB (MIAMI, FL) — failed 1990-02-02 — /failed-bank/2642
- LINCOLN SAVINGS & LOAN (IRVINE, CA) — failed 1989-04-14 — /failed-bank/2355

## Primary source

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

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, AMERIFIRST FEDERAL SAVINGS (FDIC ID 3040), failed 1991-03-15. Retrieved via AI Analytics 2026-05-18 from https://api.ai-analytics.org/failed-bank/3040.

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