Bank failure · CA
Downey Savings and Loan Association, F.A. (Newport Beach, CA) — failed November 21, 2008
Downey Savings and Loan Association, F.A. of Newport Beach, California was closed on November 21, 2008 and resolved through a purchase and assumption. U.S. Bank, NA (OH) took over its insured deposits. At failure it held $12.8B in assets and $9.7B in deposits. The FDIC's estimated loss on the failure is $151.2M (1.2% of assets).
- Closing date
- November 21, 2008
- FDIC certificate #
- 30968
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- U.S. Bank, NA
- Insurance fund
- DIF
- Pre-failure filings
- Last reported financials
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