Bank Failure
Pacific Coast S & La
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Closed March 16, 1990 · San Francisco, CA · FDIC Cert #32097.
- Closing date
- March 16, 1990
- Headquarters
- San Francisco, CA
- FDIC Certificate
- 32097
- Total assets at closing
- $1.04B
- Total deposits at closing
- $633.2M
- Estimated loss to the insurance fund
- $55.7M
- Insurance fund
- Resolution Trust Corporation (RTC)
- Resolution
- Failure (closed by regulators)
- Acquirer
- East-West FB, FSB
Context
On March 16, 1990, regulators closed Pacific Coast S & La, headquartered in San Francisco, CA. At closing, the institution held approximately $1.04B in assets and $633.2M in deposits. The FDIC record names East-West FB, FSB as the acquiring institution in the resolution. The estimated cost to the Resolution Trust Corporation (RTC) was approximately $55.7M.
By assets at closing this is the 202nd largest of the 3,526 bank failures in the FDIC record, and the 28th of 381 in 1990. 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 Pacific Coast S & La fail?
Pacific Coast S & La was closed by regulators on March 16, 1990.
Who acquired Pacific Coast S & La?
The FDIC record names East-West FB, FSB as the acquiring institution in the resolution of Pacific Coast S & La.
How big was Pacific Coast S & La when it failed?
Pacific Coast S & La had approximately $1.04B in total assets and $633.2M in deposits at the time of failure.
Other failures in 1990
| Date | Bank | Assets |
|---|---|---|
| Dec 28, 1990 | Capitol Bank and Trust Company | $485.6M |
| Dec 28, 1990 | Southern FS | $230.8M |
| Dec 28, 1990 | First FS & La of Andalusia | $38.7M |
| Dec 27, 1990 | Enterprise Savings Bank, F.A. | $432.6M |
| Dec 21, 1990 | Arkansas FSB | $71.7M |
| Dec 15, 1990 | Mid-America FS & La | $1.21B |
| Dec 14, 1990 | Community FS & La | $1.98B |
| Dec 14, 1990 | Comfed Savings Bank | $1.40B |
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