The Graveyard › Banks › 1989

Southwest Federal Savings Association

Los Angeles, CA · failed April 27, 1989 · FDIC certificate 30262

Southwest Federal Savings Association of Los Angeles, CA failed on April 27, 1989. It opened in 1945, 44 years before. At its last report before that it held $896.8 million in assets and $791.8 million in deposits. At its largest in the FDIC's quarterly reports, on December 31, 1987, it held $946.5 million. The FDIC estimates that the Resolution Trust Corporation lost $74.6 million on it.

1984-031989-03

Assets at the end$896.8 millionlast report before April 27, 1989

Deposits at the end$791.8 million

Estimated loss to the fund$74.6 millionRTC

Largest in the quarterly reports$946.5 millionDecember 31, 1987

Equity to assets-7.0%March 31, 1989

Loans not being repaid1.2%noncurrent, March 31, 1989

Return on assets-1.22%a year's rate, March 31, 1989

On the FDIC's list: SOUTHWEST FEDERAL SAVINGS ASSOC..

Take today's blind test

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.