Bank Failure
Guardian Bank
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Closed January 20, 1995 · Los Angeles, CA · FDIC Cert #24754.
- Closing date
- January 20, 1995
- Headquarters
- Los Angeles, CA
- FDIC Certificate
- 24754
- Total assets at closing
- $316.9M
- Total deposits at closing
- $297.9M
- Estimated loss to the insurance fund
- $20.5M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Imperial Bank
Context
On January 20, 1995, regulators closed Guardian Bank, headquartered in Los Angeles, CA. At closing, the institution held approximately $316.9M in assets and $297.9M in deposits. The FDIC record names Imperial Bank as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $20.5M.
By assets at closing this is the 540th largest of the 3,526 bank failures in the FDIC record, and the 2nd of 8 in 1995. 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 Guardian Bank fail?
Guardian Bank was closed by regulators on January 20, 1995.
Who acquired Guardian Bank?
The FDIC record names Imperial Bank as the acquiring institution in the resolution of Guardian Bank.
How big was Guardian Bank when it failed?
Guardian Bank had approximately $316.9M in total assets and $297.9M in deposits at the time of failure.
Other failures in 1995
| Date | Bank | Assets |
|---|---|---|
| Jul 28, 1995 | Pacific Heritage Bank | $147.7M |
| Jul 28, 1995 | Founders Bank | $77.4M |
| May 19, 1995 | Bank USA, N.A. | $9.0M |
| May 5, 1995 | American S & L Association | $64.4M |
| Apr 28, 1995 | Continental Savings of America | $359.4M |
| Mar 31, 1995 | Los Angeles Thrift and Loan Company | $23.4M |
| Mar 3, 1995 | First Trust Bank | $227.7M |
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