Bank failure · CA
First Fed. S & L Assoc. (Bakersfield, CA) — failed June 29, 1989
First Fed. S & L Assoc. of Bakersfield, California was closed on June 29, 1989 and resolved through a purchase and assumption. Bank of America Ntsa (CA) took over its insured deposits. At failure it held $126.4M in assets and $127.3M in deposits. The FDIC's estimated loss on the failure is $11.3M (8.9% of assets).
- Closing date
- June 29, 1989
- FDIC certificate #
- 28119
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Bank of America Ntsa
- Insurance fund
- RTC
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