Bank Failure
Lincoln Savings & Loan
BankRegReports is independent of Lincoln Savings & Loan and never asks for online banking logins or passwords.
Closed April 14, 1989 · Irvine, CA · FDIC Cert #29642.
- Closing date
- April 14, 1989
- Headquarters
- Irvine, CA
- FDIC Certificate
- 29642
- Total assets at closing
- $4.86B
- Total deposits at closing
- $4.19B
- Estimated loss to the insurance fund
- $3.14B
- Insurance fund
- Resolution Trust Corporation (RTC)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Great Western Bank, FSB
Context
On April 14, 1989, regulators closed Lincoln Savings & Loan, headquartered in Irvine, CA. At closing, the institution held approximately $4.86B in assets and $4.19B in deposits. The FDIC record names Great Western Bank, FSB as the acquiring institution in the resolution. The estimated cost to the Resolution Trust Corporation (RTC) was approximately $3.14B.
By assets at closing this is the 41st largest of the 3,526 bank failures in the FDIC record, and the 5th of 530 in 1989. 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 Lincoln Savings & Loan fail?
Lincoln Savings & Loan was closed by regulators on April 14, 1989.
Who acquired Lincoln Savings & Loan?
The FDIC record names Great Western Bank, FSB as the acquiring institution in the resolution of Lincoln Savings & Loan.
How big was Lincoln Savings & Loan when it failed?
Lincoln Savings & Loan had approximately $4.86B in total assets and $4.19B in deposits at the time of failure.
Other failures in 1989
| Date | Bank | Assets |
|---|---|---|
| Dec 21, 1989 | Columbia FSA | $77.1M |
| Dec 21, 1989 | Silver Savings Assoc. | $32.2M |
| Dec 20, 1989 | First City National Bank and Trust | $39.5M |
| Dec 20, 1989 | United Community Bank | $32.3M |
| Dec 15, 1989 | First American Bank and Trust | $1.38B |
| Dec 14, 1989 | Yorkridge-Calvert Federal Savings | $585.8M |
| Dec 14, 1989 | Louisiana Savings Assn. | $449.3M |
| Dec 14, 1989 | First Acadiana Bank | $46.8M |
Explore: all failures · CA bank events · 1989 events · events hub