Bank failure · CA
Beach Federal Savings Assoc. (Fountain Valley, CA) — failed January 18, 1991
Beach Federal Savings Assoc. of Fountain Valley, California was closed on January 18, 1991 and resolved through a purchase and assumption. Queen City Bank, NA (CA) took over its insured deposits. At failure it held $81.8M in assets and $80.7M in deposits. The FDIC's estimated loss on the failure is $110K (0.1% of assets).
- Closing date
- January 18, 1991
- FDIC certificate #
- 32332
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Queen City Bank, NA
- Insurance fund
- RTC
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