Bank Failure
GATEWAY FEDERAL SAVINGS BANK
Closed April 6, 1989 · OAKLAND, CA · FDIC Cert #32059.
- Closing date
- April 6, 1989
- Headquarters
- OAKLAND, CA
- FDIC Certificate
- 32059
- Total assets at closing
- $72,701,000
- Total deposits at closing
- $126,174,000
- Estimated loss to DIF
- $81,305,000
- Resolution type
- other
- Acquirer
- GATEWAY BANK, FSB (FDIC Cert #7056)
Context
On April 6, 1989, regulators closed GATEWAY FEDERAL SAVINGS BANK, headquartered in OAKLAND, CA. At closing, the institution held approximately $72,701,000 in assets and $126,174,000 in deposits. The FDIC arranged a resolution under which GATEWAY BANK, FSB acquired the failed bank's operations. The estimated cost to the FDIC Deposit Insurance Fund was approximately $81,305,000.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Other failures in 1989
| Date | Bank | HQ | Assets |
|---|---|---|---|
| 1989-12-21 | COLUMBIA FSA | NASSAU BAY, TX | $77,141,000 |
| 1989-12-21 | SILVER SAVINGS ASSOC. | SILVER CITY, NM | $32,209,000 |
| 1989-12-20 | FIRST CITY NATIONAL BANK AND TRUST | NEW YORK, NY | $39,512,000 |
| 1989-12-20 | UNITED COMMUNITY BANK | WESTLAKE VILLAGE, CA | $32,288,000 |
| 1989-12-15 | FIRST AMERICAN BANK AND TRUST | NORTH PALM BEACH, FL | $1,382,924,000 |
| 1989-12-14 | YORKRIDGE-CALVERT FEDERAL SAVINGS | BALTIMORE, MD | $585,792,000 |
| 1989-12-14 | LOUISIANA SAVINGS ASSN. | LAKE CHARLES, LA | $449,258,000 |
| 1989-12-14 | FIRST ACADIANA BANK | EUNICE, LA | $46,767,000 |
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