The Graveyard › Banks › 1989
Pacific Savings Bank
Costa Mesa, CA · failed February 7, 1989 · FDIC certificate 28560
Pacific Savings Bank of Costa Mesa, CA failed on February 7, 1989. It opened in 1929, 60 years before. At its last report before that it held $1.1 billion in assets and $1.0 billion in deposits. At its largest in the FDIC's quarterly reports, on September 30, 1984, it held $1.7 billion. The FDIC estimates that the Resolution Trust Corporation lost $188.3 million on it.
1984-031988-12
Assets at the end$1.1 billionlast report before February 7, 1989
Deposits at the end$1.0 billion
Estimated loss to the fund$188.3 millionRTC
Largest in the quarterly reports$1.7 billionSeptember 30, 1984
Equity to assets-21.3%December 31, 1988
Loans not being repaid7.2%noncurrent, December 31, 1988
Return on assets-5.29%a year's rate, December 31, 1988
Also ended in 1989
- Gibraltar Savings, FA · Simi Valley, CA · $13.4 billion in assets
- City Savings, FSB · Somerset, NJ · $9.8 billion in assets
- MBank Dallas, National Association · Dallas, TX · $6.6 billion in assets
- Western Savings & Loan · Phoenix, AZ · $5.7 billion in assets
- Lincoln Savings & Loan · Irvine, CA · $4.9 billion in assets
- University Federal Savings · Houston, TX · $4.5 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.