# COMMONWEALTH THRIFT & LOAN

> **Failed bank** · TORRANCE, CA · failed 1996-08-16 · State commercial bank, non-Federal Reserve member (FDIC-supervised) · FDIC cost $6M

## What happened

COMMONWEALTH THRIFT & LOAN of TORRANCE, CA was closed by regulators on **1996-08-16**. The FDIC was named receiver.

**Resolution:** Payout / Insured deposits — FDIC paid insured deposits directly to depositors

Deposits were transferred to **FRONTIER STATE BANK** (REDONDO BEACH, CA). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 3511
- **FDIC Certificate:** 27072
- **FDIC FIN:** 4629
- **Bank name:** COMMONWEALTH THRIFT & LOAN
- **Location:** TORRANCE, CA
- **Failure date:** 1996-08-16
- **FDIC resolution date:** 1996-08-16
- **Charter type:** State commercial bank, non-Federal Reserve member (FDIC-supervised)
- **Resolution type:** Payout / Insured deposits — FDIC paid insured deposits directly to depositors
- **Estimated FDIC DIF cost:** $6M
- **Deposits at failure:** $11M
- **Assets at failure:** $12M
- **Acquiring bank:** FRONTIER STATE BANK (REDONDO BEACH, CA)

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=COMMONWEALTH%20THRIFT%20%26%20LOAN

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, COMMONWEALTH THRIFT & LOAN (FDIC ID 3511), failed 1996-08-16. Retrieved via AI Analytics 2026-06-26 from https://api.ai-analytics.org/failed-bank/3511.

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*[FDIC failures dataset](/datasets/fdic-failures) · CC0 1.0*