The Graveyard › Banks › 1989
Westco Savings Bank, FSB
Wilmington, CA · failed April 27, 1989 · FDIC certificate 28508
Westco Savings Bank, FSB of Wilmington, CA failed on April 27, 1989. It opened in 1920, 69 years before. At its last report before that it held $188.3 million in assets and $181.4 million in deposits. At its largest in the FDIC's quarterly reports, on September 30, 1988, it held $215.5 million. The FDIC estimates that the Resolution Trust Corporation lost $42.6 million on it.
1984-031989-03
Assets at the end$188.3 millionlast report before April 27, 1989
Deposits at the end$181.4 million
Estimated loss to the fund$42.6 millionRTC
Largest in the quarterly reports$215.5 millionSeptember 30, 1988
Equity to assets-0.7%March 31, 1989
Loans not being repaid15.0%noncurrent, March 31, 1989
Return on assets-4.17%a year's rate, March 31, 1989
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.