The Graveyard › Banks › 1989

Security Fed. Savings Association

Garden Grove, CA · failed November 16, 1989 · FDIC certificate 30982

Security Fed. Savings Association of Garden Grove, CA failed on November 16, 1989. It opened on September 9, 1957, 32 years before. At its last report before that it held $71.0 million in assets and $74.7 million in deposits. At its largest in the FDIC's quarterly reports, on September 30, 1988, it held $81.9 million. The FDIC estimates that the Resolution Trust Corporation lost $2,801 on it.

1984-031989-09

Assets at the end$71.0 millionlast report before November 16, 1989

Deposits at the end$74.7 million

Estimated loss to the fund$2,801RTC

Largest in the quarterly reports$81.9 millionSeptember 30, 1988

Equity to assets-6.6%September 30, 1989

Loans not being repaid0.5%noncurrent, September 30, 1989

Return on assets-9.51%a year's rate, September 30, 1989

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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.