The Graveyard › Banks › 1991
Far West Savings & Loan
Newport Beach, CA · failed January 11, 1991 · FDIC certificate 28292
Far West Savings & Loan of Newport Beach, CA failed on January 11, 1991. It opened in 1889, 102 years before. At its last report before that it held $3.7 billion in assets and $3.0 billion in deposits. At its largest in the FDIC's quarterly reports, on June 30, 1989, it held $4.9 billion. The FDIC estimates that the Resolution Trust Corporation lost $498.7 million on it.
1984-031990-12
Assets at the end$3.7 billionlast report before January 11, 1991
Deposits at the end$3.0 billion
Estimated loss to the fund$498.7 millionRTC
Largest in the quarterly reports$4.9 billionJune 30, 1989
Equity to assets-4.9%December 31, 1990
Loans not being repaid12.6%noncurrent, December 31, 1990
Return on assets-6.60%a year's rate, December 31, 1990
Staff392full time, December 31, 1990
Also ended in 1991
- Bank of New England, National Association · Boston, MA · $13.4 billion in assets
- Southeast Bank, National Association · Miami, FL · $11.0 billion in assets
- Goldome · Buffalo, NY · $9.9 billion in assets
- Great American Fsa · San Diego, CA · $9.5 billion in assets
- The Connecticut Bank & Trust Co · Hartford, CT · $7.2 billion in assets
- Sunbelt Savings · Irving, TX · $6.0 billion in assets
History, not advice.
Source: Federal Deposit Insurance Corporation, BankFind Suite API. Source values and institutional identifiers are retained; formatting and normalization by Underfolio. No FDIC endorsement is implied. How these numbers are made · Report a data issue.