Bank Failure
Encino Savings Bank, FSB
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Closed June 3, 1994 · Encino, CA · FDIC Cert #31484.
- Closing date
- June 3, 1994
- Headquarters
- Encino, CA
- FDIC Certificate
- 31484
- Total assets at closing
- $92.5M
- Total deposits at closing
- $89.1M
- Estimated loss to the insurance fund
- $7.4M
- Insurance fund
- Resolution Trust Corporation (RTC)
- Resolution
- Failure (closed by regulators)
- Acquirer
- American SB, F.A.
Context
On June 3, 1994, regulators closed Encino Savings Bank, FSB, headquartered in Encino, CA. At closing, the institution held approximately $92.5M in assets and $89.1M in deposits. The FDIC record names American SB, F.A. as the acquiring institution in the resolution. The estimated cost to the Resolution Trust Corporation (RTC) was approximately $7.4M.
By assets at closing this is the 1251st largest of the 3,526 bank failures in the FDIC record, and the 8th of 15 in 1994. It falls in the period the record labels S&L / Banking Crisis (1980-1995), a period with 2,367 failures peaking at 530 in 1989.
Deregulation, interest-rate shocks, and commercial real estate blowups produced the worst US banking failure wave since the Depression. Resulted in FIRREA (1989) and the RTC.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did Encino Savings Bank, FSB fail?
Encino Savings Bank, FSB was closed by regulators on June 3, 1994.
Who acquired Encino Savings Bank, FSB?
The FDIC record names American SB, F.A. as the acquiring institution in the resolution of Encino Savings Bank, FSB.
How big was Encino Savings Bank, FSB when it failed?
Encino Savings Bank, FSB had approximately $92.5M in total assets and $89.1M in deposits at the time of failure.
Other failures in 1994
| Date | Bank | Assets |
|---|---|---|
| Dec 16, 1994 | Cornerstone Bank FSB | $44.3M |
| Oct 21, 1994 | Ludlow Savings Bank | $222.7M |
| Aug 26, 1994 | Capital Bank | $76.9M |
| Aug 12, 1994 | Bank of Newport | $167.8M |
| Jul 29, 1994 | Commerce Bank | $142.3M |
| Jul 29, 1994 | Western Community Bank | $54.0M |
| Jul 15, 1994 | Bank of San Pedro | $132.6M |
| Jul 8, 1994 | Pioneer Bank | $133.2M |
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