UNION FEDERAL BANK, FSB Failed 1996
What happened
UNION FEDERAL BANK, FSB of LOS ANGELES, CA was closed on 1996-08-09. The FDIC was named receiver.
Resolution: Payout / Insured deposits — FDIC paid insured deposits directly to depositors
Deposits were transferred to DEAN WITTER TRUST FSB (JERSEY CITY, NJ). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3510
- FDIC Certificate
- 29236
- FDIC FIN
- 6001
- Bank name
- UNION FEDERAL BANK, FSB
- Location
- LOS ANGELES, CA
- Failure date
- 1996-08-09
- FDIC resolution date
- 1996-08-09
- Charter type
- Savings bank
- Resolution type
- Payout / Insured deposits — FDIC paid insured deposits directly to depositors
- FDIC DIF cost (est.)
- $22M
- Deposits at failure
- $33M
- Assets at failure
- $33M
- Acquiring bank
- DEAN WITTER TRUST FSB (JERSEY CITY, NJ)