Bank Failure
Westwood S&LA
BankRegReports is independent of Westwood S&LA and never asks for online banking logins or passwords.
Closed March 27, 1986 · Los Angeles, CA · FDIC Cert #31927.
- Closing date
- March 27, 1986
- Headquarters
- Los Angeles, CA
- FDIC Certificate
- 31927
- Total assets (last filing before closing)
- $583.2M
- Total deposits (last filing before closing)
- $550.6M
- Estimated loss to the insurance fund
- Not published (the FDIC feed carries no estimate for this failure)
- Insurance fund
- Federal Savings and Loan Insurance Corporation (FSLIC)
- Resolution
- Failure (closed by regulators)
Context
On March 27, 1986, regulators closed Westwood S&LA, headquartered in Los Angeles, CA. At closing, the institution held approximately $583.2M in assets and $550.6M in deposits. The FDIC record does not name an acquiring institution.
By total assets in its last filing before closing, this is the 331st largest of the 3,526 bank failures in the FDIC record, and the 7th of 162 in 1986. 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, in nominal dollars, and can differ from the balance on the closing day.
Common questions
When did Westwood S&LA fail?
Westwood S&LA was closed by regulators on March 27, 1986.
How big was Westwood S&LA when it failed?
Westwood S&LA had approximately $583.2M in total assets and $550.6M in deposits at the time of failure.
Other failures in 1986
| Date | Bank | Assets |
|---|---|---|
| Dec 19, 1986 | Lakeland State Bank | $49.4M |
| Dec 19, 1986 | Farmers State Bank | $9.7M |
| Dec 18, 1986 | First Bank & Trust Co. | $94.9M |
| Dec 18, 1986 | Landmark National Bank | $12.9M |
| Dec 18, 1986 | Lago Vista National Bank | $11.9M |
| Dec 12, 1986 | Guaranty Federal Bank FSB | $63.8M |
| Dec 12, 1986 | First Savings of America | $47.0M |
| Dec 9, 1986 | The Citizens Bank of Windsor | $24.8M |
Explore: all failures · CA bank events · Bank failures in California · 1986 events · events hub