The Graveyard › Banks › 1989
Western Savings & Loan
Phoenix, AZ · failed June 14, 1989 · FDIC certificate 28597
Western Savings & Loan of Phoenix, AZ failed on June 14, 1989. It opened in 1929, 60 years before. At its last report before that it held $5.7 billion in assets and $4.1 billion in deposits. At its largest in the FDIC's quarterly reports, on March 31, 1988, it held $6.4 billion. The FDIC estimates that the Resolution Trust Corporation lost $2.1 billion on it.
1984-031989-03
Assets at the end$5.7 billionlast report before June 14, 1989
Deposits at the end$4.1 billion
Estimated loss to the fund$2.1 billionRTC
Largest in the quarterly reports$6.4 billionMarch 31, 1988
Equity to assets-3.3%March 31, 1989
Loans not being repaid16.1%noncurrent, March 31, 1989
Return on assets-7.09%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
- Lincoln Savings & Loan · Irvine, CA · $4.9 billion in assets
- University Federal Savings · Houston, TX · $4.5 billion in assets
- Bright Banc · Dallas, TX · $4.4 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.