Bank failure · CA
Charter Savings Bank (Newport, CA) — failed June 15, 1990
Charter Savings Bank of Newport, California was closed on June 15, 1990 and resolved through a insured deposit transfer. Pacific Heritage Bank (CA) took over its insured deposits. At failure it held $313.9M in assets and $280.4M in deposits. The FDIC's estimated loss on the failure is $9.8M (3.1% of assets).
- Closing date
- June 15, 1990
- FDIC certificate #
- 31924
- Resolution
- Insured deposit transfer (failure)
- Acquiring institution
- Pacific Heritage Bank
- Insurance fund
- RTC
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