Bank failure · CA
Far West Savings & Loan (Newport Beach, CA) — failed January 11, 1991
Far West Savings & Loan of Newport Beach, California was closed on January 11, 1991 and resolved through a purchase and assumption (insured deposits). Branch Sale (NA) took over its insured deposits. At failure it held $3.7B in assets and $3.0B in deposits. The FDIC's estimated loss on the failure is $498.7M (13.4% of assets).
- Closing date
- January 11, 1991
- FDIC certificate #
- 28292
- Resolution
- Purchase and assumption (insured deposits) (failure)
- Acquiring institution
- Branch Sale
- Insurance fund
- RTC
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