Bank Failure
VALLEY FIRST FS&LA
Closed January 14, 1983 · EL CENTRO, CA · FDIC Cert #31620.
- Closing date
- January 14, 1983
- Headquarters
- EL CENTRO, CA
- FDIC Certificate
- 31620
- Total assets at closing
- $37,110,000
- Total deposits at closing
- $33,698,000
- Estimated loss to DIF
- $-7,434,000
- Resolution type
- other
- Acquirer
- HOME FS&LA (FDIC Cert #7502)
Context
On January 14, 1983, regulators closed VALLEY FIRST FS&LA, headquartered in EL CENTRO, CA. At closing, the institution held approximately $37,110,000 in assets and $33,698,000 in deposits. The FDIC arranged a resolution under which HOME FS&LA acquired the failed bank's operations. The estimated cost to the FDIC Deposit Insurance Fund was approximately $-7,434,000.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Other failures in 1983
| Date | Bank | HQ | Assets |
|---|---|---|---|
| 1983-12-30 | FIRST FS&LA OF MONROEVILLE | MONROEVILLE, AL | $29,780,000 |
| 1983-12-27 | CITIZENS S&LA | MIDDLETOWN, OH | $63,594,000 |
| 1983-12-16 | THE BANK OF RED OAK | RED OAK, OK | $11,135,000 |
| 1983-12-13 | BANK OF HACKLEBURG | HACKLEBURG, AL | $6,531,000 |
| 1983-12-13 | BANK OF HACKLEBURG | HACKLEBURG, AL | $6,531,000 |
| 1983-12-09 | UNION TRUST COMPANY | SAN JUAN, PR | $30,578,000 |
| 1983-12-02 | METRO FS&LA | LAKE CHARLES, LA | $27,381,000 |
| 1983-12-01 | BOHEMIAN S&LA | ST. LOUIS, MO | $168,567,000 |
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