Bank failure · CA

First Network Savings Bank (Los Angeles, CA) — failed April 20, 1990

First Network Savings Bank of Los Angeles, California was closed on April 20, 1990 and resolved through a payout (deposit payoff). Payout (NA) took over its insured deposits. At failure it held $303.8M in assets and $393.6M in deposits. The FDIC's estimated loss on the failure is $186.1M (61.2% of assets).