CONTINENTAL SAVINGS OF AMERICA Failed 1995
What happened
CONTINENTAL SAVINGS OF AMERICA of SAN FRANCISCO, CA was closed on 1995-04-28. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to CALIFORNIA FB, FSB (LOS ANGELES, CA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3501
- FDIC Certificate
- 31899
- FDIC FIN
- 1310
- Bank name
- CONTINENTAL SAVINGS OF AMERICA
- Location
- SAN FRANCISCO, CA
- Failure date
- 1995-04-28
- FDIC resolution date
- 1995-04-28
- Charter type
- SL
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $22M
- Deposits at failure
- $357M
- Assets at failure
- $359M
- Acquiring bank
- CALIFORNIA FB, FSB (LOS ANGELES, CA)