Bank Failure
Santa Barbara S & L Assoc.
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Closed April 27, 1990 · Santa Barbara, CA · FDIC Cert #28666.
- Closing date
- April 27, 1990
- Headquarters
- Santa Barbara, CA
- FDIC Certificate
- 28666
- Total assets at closing
- $4.29B
- Total deposits at closing
- $1.74B
- Estimated loss to the insurance fund
- Not available (the FDIC feed's figure of $55K is not consistent with a failure of this size)
- Insurance fund
- Resolution Trust Corporation (RTC)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Bank of America Ntsa
Context
On April 27, 1990, regulators closed Santa Barbara S & L Assoc., headquartered in Santa Barbara, CA. At closing, the institution held approximately $4.29B in assets and $1.74B in deposits. The FDIC record names Bank of America Ntsa as the acquiring institution in the resolution.
By assets at closing this is the 47th largest of the 3,526 bank failures in the FDIC record, and the 9th 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 Santa Barbara S & L Assoc. fail?
Santa Barbara S & L Assoc. was closed by regulators on April 27, 1990.
Who acquired Santa Barbara S & L Assoc.?
The FDIC record names Bank of America Ntsa as the acquiring institution in the resolution of Santa Barbara S & L Assoc.
How big was Santa Barbara S & L Assoc. when it failed?
Santa Barbara S & L Assoc. had approximately $4.29B in total assets and $1.74B 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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