Bank Failure
Valley FS & La
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Closed April 10, 1992 · Van Nuys, CA · FDIC Cert #31768.
- Closing date
- April 10, 1992
- Headquarters
- Van Nuys, CA
- FDIC Certificate
- 31768
- Total assets at closing
- $2.00B
- Total deposits at closing
- $1.55B
- Estimated loss to the insurance fund
- $124.4M
- Insurance fund
- Resolution Trust Corporation (RTC)
- Resolution
- Failure (closed by regulators)
- Acquirer
- American SB, F.A.
Context
On April 10, 1992, regulators closed Valley FS & La, headquartered in Van Nuys, CA. At closing, the institution held approximately $2.00B in assets and $1.55B in deposits. The FDIC record names American SB, F.A. as the acquiring institution in the resolution. The estimated cost to the Resolution Trust Corporation (RTC) was approximately $124.4M.
By assets at closing this is the 108th largest of the 3,526 bank failures in the FDIC record, and the 11th of 179 in 1992. 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 Valley FS & La fail?
Valley FS & La was closed by regulators on April 10, 1992.
Who acquired Valley FS & La?
The FDIC record names American SB, F.A. as the acquiring institution in the resolution of Valley FS & La.
How big was Valley FS & La when it failed?
Valley FS & La had approximately $2.00B in total assets and $1.55B in deposits at the time of failure.
Other failures in 1992
| Date | Bank | Assets |
|---|---|---|
| Dec 18, 1992 | The Rushville National Bank | $41.6M |
| Dec 18, 1992 | The Bremen State Bank | $2.7M |
| Dec 11, 1992 | Meritor Savings Bank | $4.13B |
| Dec 11, 1992 | Eastland Savings Bank | $515.3M |
| Dec 11, 1992 | Eastland Bank | $85.4M |
| Dec 11, 1992 | Sailors & Merchants B&T Co. | $34.8M |
| Dec 8, 1992 | Palm Beach FSA | $59.4M |
| Dec 4, 1992 | Carteret FSB | $4.83B |
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