Bank failure · CA
Gibraltar Savings, Fa (Simi Valley, CA) — failed March 31, 1989
Gibraltar Savings, Fa of Simi Valley, California was closed on March 31, 1989 and resolved through a purchase and assumption. Security Pacific Nb, NA (CA) took over its insured deposits. At failure it held $13.4B in assets and $7.6B in deposits. The FDIC's estimated loss on the failure is $94.6M (0.7% of assets).
- Closing date
- March 31, 1989
- FDIC certificate #
- 31629
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Security Pacific Nb, NA
- Insurance fund
- RTC
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