Bank Failure
SECURITY S & LA
Closed February 17, 1989 · SCOTTSDALE , AZ · FDIC Cert #31399 .
- Closing date
- February 17, 1989
- Headquarters
- SCOTTSDALE , AZ
- FDIC Certificate
- 31399
- Total assets at closing
- $626.9M
- Total deposits at closing
- $1.05B
- Estimated loss to DIF
- $788.5M
- Resolution type
- other
- Acquirer
- BRANCH SALE (FDIC Cert #7284)
Context
On February 17, 1989, regulators closed SECURITY S & LA , headquartered in SCOTTSDALE , AZ . At closing, the institution held approximately $626.9M in assets and $1.05B in deposits . The FDIC arranged a resolution under which BRANCH SALE acquired the failed bank's operations. The estimated cost to the FDIC Deposit Insurance Fund was approximately $788.5M.
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 | $77.1M |
| 1989-12-21 | SILVER SAVINGS ASSOC. | SILVER CITY , NM | $32.2M |
| 1989-12-20 | FIRST CITY NATIONAL BANK AND TRUST | NEW YORK , NY | $39.5M |
| 1989-12-20 | UNITED COMMUNITY BANK | WESTLAKE VILLAGE , CA | $32.3M |
| 1989-12-15 | FIRST AMERICAN BANK AND TRUST | NORTH PALM BEACH , FL | $1.38B |
| 1989-12-14 | YORKRIDGE-CALVERT FEDERAL SAVINGS | BALTIMORE , MD | $585.8M |
| 1989-12-14 | LOUISIANA SAVINGS ASSN. | LAKE CHARLES , LA | $449.3M |
| 1989-12-14 | FIRST ACADIANA BANK | EUNICE , LA | $46.8M |
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