VALLEY FS & LA Failed 1992
What happened
VALLEY FS & LA of VAN NUYS, CA was closed on 1992-04-10. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to AMERICAN SB, FA (STOCKTON, CA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3309
- FDIC Certificate
- 31768
- FDIC FIN
- 1208
- Bank name
- VALLEY FS & LA
- Location
- VAN NUYS, CA
- Failure date
- 1992-04-10
- FDIC resolution date
- 1992-04-10
- Charter type
- SL
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $124M
- Deposits at failure
- $1,550M
- Assets at failure
- $1,996M
- Acquiring bank
- AMERICAN SB, FA (STOCKTON, CA)
Other banks AMERICAN SB, FA acquired in FDIC resolutions