Bank failure · CA
Cabrillo Federal Savings Bank (San Jose, CA) — failed April 6, 1989
Cabrillo Federal Savings Bank of San Jose, California was closed on April 6, 1989 and resolved through a purchase and assumption. Financial Center Bank, NA (CA) took over its insured deposits. At failure it held $71.8M in assets and $61.9M in deposits. The FDIC's estimated loss on the failure is $1.6M (2.2% of assets).
- Closing date
- April 6, 1989
- FDIC certificate #
- 32146
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Financial Center Bank, NA
- Insurance fund
- RTC
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