Bank failure · UT
Mountainwest S & L Assoc. (Ogden, UT) — failed February 17, 1989
Mountainwest S & L Assoc. of Ogden, Utah was closed on February 17, 1989 and resolved through a purchase and assumption. Mountainwest Financial (UT) took over its insured deposits. At failure it held $241.5M in assets and $227.5M in deposits. The FDIC's estimated loss on the failure is $71.4M (29.6% of assets).
- Closing date
- February 17, 1989
- FDIC certificate #
- 32621
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Mountainwest Financial
- Insurance fund
- RTC
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