Bank failure · UT
American S & LA (Salt Lake City, UT) — failed February 17, 1989
American S & LA of Salt Lake City, Utah was closed on February 17, 1989 and resolved through a purchase and assumption. Pacific First FSB (WA) took over its insured deposits. At failure it held $2.2B in assets and $1.4B in deposits. The FDIC's estimated loss on the failure is $152.5M (7.0% of assets).
- Closing date
- February 17, 1989
- FDIC certificate #
- 28582
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Pacific First FSB
- Insurance fund
- RTC
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